Aliko Dangote, the President of Dangote Group, has assured Nigerians that the Premium Motor Spirit (PMS) produced by the Dangote Refinery will meet the highest global standards. Speaking during a press conference on Tuesday, September 2, 2024, Dangote announced the official commencement of petrol production at the refinery's 650,000 barrels-per-day facility in Lagos.
“It’s a celebration day for Nigerians,” Dangote declared, emphasizing that the refinery's petrol quality would rival that of the United States and other leading markets. "You are now going to have good petrol, while the engines of your vehicles will last longer. You will not be having engine issues, which a lot of us were having. It won’t happen at all," he reassured.
Dangote highlighted that once the ongoing discussions with the Nigerian National Petroleum Company Limited (NNPCL) are concluded, the refinery's products will be available in the market. He expressed optimism that the refinery’s operations would significantly impact the Nigerian economy by stabilizing the naira, reducing inflation, and lowering the cost of living through real import substitution.
“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 stabilize the naira, and it will also help bring down inflation and cost of living,” he added.
The commencement of petrol production at the Dangote Refinery marks a significant milestone in Nigeria's energy sector, with high expectations that it will reduce the country’s dependence on imported fuel and contribute to economic stability.
