As of Tuesday, September 3, 2024, the Nigerian National Petroleum Company Limited (NNPC) tankers have begun lifting petrol from Dangoteâs mega refinery in Lekki.
The refineryâs petrol production offers a new and potentially more efficient supply route for Nigeriaâs petrol needs.
Aliko Dangote, Chairman of Dangote Industries Limited, said the refinery can satisfy Nigeria’s and Sub-Saharan Africa’s petrol demand.
He disclosed that the refinery will also curb round-tripping in the Nigerian oil industry, showing the actual petrol consumption in Nigeria as the company can track every single-loaded truck.
Experts have disclosed that the facility will relieve Nigerians facing acute petrol scarcity.
Dangote assured us that petrol from the $19 billion refinery would be in filling stations within 48 hours.
He said the petrol was of high quality and that the refinery would reduce problems caused by dirty fuel, which causes engine failure.
According to a BusinessDay report, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said that the refinery will supply about 25 million litres of petrol to the Nigerian market daily, beginning in September.
The agency disclosed that the supply will rise to 30 million litres subsequently.
The NMDPRA disclosed that it met with the NNPC to agree on crude oil supply to local refineries in naira, including the Dangote Refinery.
Meanwhile, Femi Otedola, Chairman of Geregu Power, said the successful operation of the Dangote Refinery could lead to the decline in relevance of local depots, which have relied on fuel imports to meet domestic needs.
Otedola disclosed on social media that he and Dangote formed the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries.
He said:
The development comes amid the increase in the pump price of petrol by the NNPC to N897 per litre on Tuesday, September 3, 2024.
This development comes as the Minister of State for Petroleum Resources, Heineken Lokpobiri, suggested that the NNPC increase petrol prices above the landing cost to curb smuggling in the country.
The commencement of petrol production by the Dangote refinery is timely, given the anguish of petrol scarcity endured by Nigerians.
An energy policy expert, Adeola Yusuf, disclosed that Nigerians can purchase the Dangote refinery even though it will be sold at the market price.
TimesNow.com.ng earlier reported that Edwin Devakumar, the vice president of Oil and Gas at Dangote Industries Limited, said that the Nigerian National Petroleum Company Limited (NNPC) will be the sole petrol buyer from the Dangote Refinery.
Devakumar disclosed on Monday, September 2, 2024, that the $19 billion refinery had begun a petrol production test run and would begin flowing into the tanks.
