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As Dangote Refinery kicked off its petrol production yesterday, Nigerians can start buying this locally produced fuel from tomorrow. This marks a significant step towards meeting the country’s energy needs domestically.
At the unveiling ceremony yesterday, Alhaji Aliko Dangote, the refinery’s President, proudly displayed a sample of the first petrol produced. Together with Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), and Hajiya Fatima Aliko-Dangote, Group Commercial Operations Director at DIL.
Dangote extolled this event as a major milestone for Nigeria, one that promises to address ongoing economic challenges. He highlighted the refinery’s potential to boost the economy, recalling that it was inaugurated by former President Muhammadu Buhari last May. Although the refinery only started producing diesel and Jet A1 in April, yesterday’s event marked a new chapter with the rollout of petrol.
In further remarks, Dangote expressed gratitude to Nigerians and President Bola Tinubu for creating the supportive environment necessary for this achievement. He emphasized the significance of the “naira for crude” and “naira for products” initiative, which is expected to stabilize the naira by reducing dollar demand by 40%, and help combat issues like fuel smuggling.
“This is a historic day for Nigeria,” Dangote said. “We’ve not produced petrol locally for many years, and today we celebrate this achievement. I want to thank President Tinubu for his role in making this possible. This development will provide much-needed energy for our nation’s growth.”
He also noted that the Dangote petrol is of exceptional quality, potentially extending engine life and meeting international standards. “Our fuel can match any premium standard worldwide, including those in Europe and America. This is a real cause for celebration,” Dangote added.
Dangote assured Nigerians that by next month, Nigeria would no longer need to import polypropylene as their petrochemical plant will be ready to meet local demand. He clarified, however, that while his refinery ensures petrol availability, The Nigerian National Petroleum Corporation Limited (NNPCL) will be the price regulator.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed that it has agreed to an agreement with NNPCL to sell crude oil to Dangote Refinery in naira. NMDPRA further announced that the refinery will initially supply 25 million liters of petrol daily, increasing to 30 million liters by October.
This development comes amidst ongoing petrol scarcity across the country. Femi Otedola, Chairman of Geregu Power, praised Dangote for this achievement, suggesting that depot owners and marketers consider selling their facilities as market conditions shift.
An industry analyst explained that the petrol’s clarity, resembling water, is due to the use of ethanol as a refining additive, which improves engine efficiency and reduces pollution.
Ogun State Governor, Prince Dapo Abiodun, lauded the refinery’s opening as a significant boost for Nigeria’s economy. He reiterated that the refinery’s local production will reduce dependence on fuel imports, conserve foreign exchange, and create jobs, thus strengthening the economy and enhancing energy security.
“This refinery is a game-changer for Nigeria and the broader African continent,” Abiodun said. “It not only addresses our fuel import dependency but also aligns with President Tinubu’s efforts to diversify
