LAGOS, Nigeria — In a significant milestone for Nigeria’s energy sector, Aliko Dangote, the chairman of Dangote Industries Limited, has officially announced the commencement of petrol production at his state-of-the-art refinery. The announcement was made during a press conference on Tuesday, where Dangote proudly showcased a bottle of the refinery’s first batch of premium motor spirit (PMS), signalling a new chapter in Nigeria’s oil industry.
The 650,000 barrels-per-day (bpd) refinery, which initially began operations in January with the production of diesel and aviation fuel, has now expanded its output to include petrol. Dangote emphasized that the petrol produced at his refinery is of world-class quality, capable of competing with products from any global market.
Addressing the media, Dangote attributed the refinery’s success to the supportive policies of the Nigerian government, particularly under President Bola Tinubu. He praised the “conducive environment” fostered by the current administration, which he said has been instrumental in the realization of this ambitious project.
“Today marks a historic moment for Nigeria,” Dangote declared. “For years, our nation has struggled with petrol production, but today we stand together to celebrate this achievement. I commend President Ahmed Tinubu and his administration for creating the conditions that have allowed us to thrive and accomplish this monumental task.”
The billionaire entrepreneur also highlighted the positive impact of President Tinubu’s “naira for crude” policy, which he believes will stabilize the naira by significantly reducing the demand for dollars. According to Dangote, this policy could cut the need for foreign currency by 40 percent, providing a much-needed boost to Nigeria’s economy.
In addressing longstanding issues within the oil industry, such as the problem of round-tripping and false documentation leading to petrol shortages, Dangote assured that his refinery’s operations would bring transparency and accuracy to petrol consumption tracking across Nigeria. “With this refinery in full operation, we can now monitor every single truck loaded with petrol, ensuring that the actual consumption figures are clear and accurate,” he stated.
The quality of the refinery’s petrol production was another key point in Dangote’s address. He assured Nigerians that the petrol produced would meet global standards, eliminating common engine issues associated with substandard fuel. “Our petrol will be second to none, ensuring that Nigerian consumers receive the highest quality product available,” he said confidently.
As the refinery finalizes its agreements with the Nigerian National Petroleum Company (NNPC) Limited, Dangote assured that the refinery’s products would soon be available in the market. This development is expected to revitalize Nigeria’s manufacturing and industrial sectors, providing real import substitution, conserving foreign exchange, and contributing to the stabilization of the naira.
In addition to petrol production, Dangote revealed that Nigeria would soon achieve self-sufficiency in polypropylene production, a critical material used in packaging and plastics. This, he said, would alleviate the challenges faced by industries that have struggled with importation delays and high costs, ensuring a steady supply of locally produced materials.
Dangote concluded by highlighting the broader economic impact of the refinery, stating that it would help reduce inflation, lower the cost of living, and drive economic growth across the country.
The commencement of petrol production at the Dangote refinery marks a pivotal moment in Nigeria’s journey towards energy self-sufficiency and economic stability, with far-reaching implications for the nation’s future.
