Aliko Dangote, owner of the Dangote refineries just disclosed that after years of preparation, the refineries are all set to start supplying petroleum to various parts of the country.
Speaking at a press conference in Laos State on August 3rd, 2024, the owner of the Lagos-based refinery assured Nigerians that they are now going to have good petrol that will ensure the engines of vehicles last longer.
He states;
‘’You will not be having an engine issue, which a lot of us were having. It won’t happen at all. The quality here will match that of anywhere in the world; US, America, we will make sure that nobody will beat us in terms of quality,”
The refinery has already produced its first Premium Motor Spirit (PMS) from its 650,000 barrels per day facility. During the conference, the businessman specified that the Federal Executive Council (FEC) would determine the pricing of petrol produced at his refinery.
“It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu. As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”
He reassured Nigerians that once the company finalizes modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. This comes after numerous regulatory battles that had previously delayed the production of petroleum products.
In his words;
“As soon as we finalise with the NNPCL, our product will start going into the market. We will help to restore industry and manufacturing. We will begin real import substitution, which is what we have, you know, saving foreign exchange, earning foreign exchange, which will stabilise the naira, and it will also help bring down inflation and cost of living,”
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