By Pathfinder Reporter
Tuesday September 3, 2024
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The President of Dangote Group, Aliko Dangote, today in Lagos presented the first sample of Premium Motor Spirit, otherwise known as petrol.
Dangote made this presentation in a broadcast at his refinery situated in the Ibeju-Lekki Area of Lagos State.
The 650,000-capacity refinery engaged in a test run of the product.
“I would like to salute the people of Nigeria and the government of President Bola Tinubu for giving us the platform for growth, development, and prosperity. I also want to thank him personally for creating the idea of the Naira for crude. Doing that will give Naira stability.
“As we have this refinery working, it will show the true consumption of Nigeria; we can track every loaded truck and ship,” he said
He also said that his refinery will meet the demands of not only Nigerians but also sub-Saharan Africa.
Meanwhile, Dangote, has said that the introduction of naira for crude will reduce the demand for foreign exchange by 40 per cent.
He said this on Tuesday as he announced the commencement of the production of petrol at the Dangote refinery located in Lagos.
* Dangote refinery to supply 25 million litres of petrol daily
In another development, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that the Dangote oil refinery will supply a total of 25 million litres of petrol to the Nigerian market daily starting from September.
NMDPRA disclosed on Tuesday that this will rise to 30 million litres from September.
In a short statement, the NMDPRA said it met with the Nigerian National Petroleum Company Limited to agree on local crude supply to the refinery.
“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,” the NMDPRA said on its X page.
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