The Dangote oil refinery will supply a total of 25 million litres of Premium Motor Spirit, otherwise known as petrol to the Nigerian market in September.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, made this known on Tuesday, adding that this will rise to 30 million litres from September.
The NMDPRA, in the short statement via its official X handle, said it met with the Nigerian National Petroleum Company Limited to agree on local crude supply to the refinery.
It wrote, “At the NMDPRA headquarters in Abuja, NNPCL reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.
“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million litres daily from October 2024.”
Already, the Dangote Petroleum Refinery has presented the first sample of Premium Motor Spirit, otherwise known as petrol, to the media.
President of Dangote Group, Aliko Dangote, revealed this on Tuesday in a broadcast at his refinery in the Ibeju-Lekki area of Lagos State.
This is coming a few days after the 650,000-capacity refinery engaged in a test-run of the product.
The $20 billion Dangote Refinery, built by Aliko Dangote, started petrol production this January, following initial operations that produced diesel and aviation fuel.
Dangote, while addressing newsmen on Tuesday, said: “This refinery will fuel growth, development, and prosperity by supplying energy to our people.”
Dangote expressed gratitude to President Bola Tinubu’s administration for fostering an environment conducive to the success of the initiative.
He said: “I salute the people of Nigeria and President Bola Tinubu’s government for creating the conditions that allowed us to achieve this monumental task.
“This refinery will drive growth, development, and prosperity by providing energy to our people.”
He also thanked Tinubu for the “Naira for crude, Naira for product” initiative, which he believes will stabilize the Naira by reducing the demand for dollars by 40 percent.
“As we have this refinery working, it will show the true consumption of Nigeria; we can track every loaded truck and ship,” Dangote added.
He also said that his refinery will meet the demands of not only Nigerians but also sub-Saharan Africa.
