by John Ibizugbe (Lagos):
Aliko Dangote, Chairman of the Dangote Group, has assured Nigerians that the 650,000 barrels per day (bpd) refinery will guarantee the availability of Premium Motor Spirit (PMS), commonly known as petrol, across the country.
Dangote made this commitment during a press briefing on Tuesday, marking the official rollout of petrol from the new refinery.
During the event, Dangote described the refinery’s operation as a significant milestone for Nigeria, which has struggled for years without producing a single litre of petrol domestically.
“This is a turnaround for our country,” Dangote stated, emphasizing that the refinery would ensure a steady supply of petrol, while the Nigerian National Petroleum Corporation (NNPC) would control pricing.
Tribune Online had reported a day earlier that Devakumar Edwin, Vice President of Dangote Industries Limited, announced that NNPC would be the sole purchaser of products from the refinery as it begins full-scale production. According to Dangote, NNPC’s exclusive role as the buyer means they would also decide the pump price of petrol.
When asked about the pricing structure, Dangote explained, “It is an arrangement designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu. Pricing is controlled by NNPC. For now, our role is to ensure that products are available… that is what I can guarantee you.”
He added that the timeline for the finalization of the pricing structure is imminent, stating, “As soon as it is finalized, which President Tinubu is pushing for, we are ready to roll into the market—whether it’s today or tomorrow.”
Dangote also expressed gratitude to Nigerians for their support and commended President Bola Ahmed Tinubu for creating the enabling environment that made the 650,000 bpd refinery a reality.
He highlighted that the refinery would be crucial for Nigeria’s energy security, growth, development, and prosperity.
