Jubilation as Dangote Refinery meets Nigeria’s fuel demand

Devakumar Edwin, Vice President of Oil and Gas at Dangote Refinery, revealed that 44% of the refinery's petrol (PMS) output is sufficient to meet Nigeria's entire daily demand.

Dangote Refinery speaks on how much of its production will serve Nigeria's need
Source: Facebook

Speaking during a press briefing at the refinery on Sunday, Edwin expressed satisfaction with the start of petrol distribution, noting that after 52 years, Nigeria finally has a solution to its PMS supply challenges.

He stated that the refinery, built by a Nigerian firm, will utilize local crude oil to produce PMS, fulfilling Nigeria's demand and exporting the excess.

Devakumar highlighted that with a crude processing capacity of 650,000 barrels per day, the refinery can produce over 54 million liters of PMS, in addition to a variety of other products.

He said:

"44% of the production can meet the entire requirement of the country, 56% of the production has to be exported. So, it is a huge refinery. So, it is not only going to be doing import substitution, but it is also going to make Forex generation through export revenue."

It is important to note that Zacch Adedeji, Chairman of the Presidential Committee on the Sale of Crude Oil and Refined Products, previously confirmed that NNPC Limited will exclusively purchase petrol from Dangote Refinery, while products like diesel will be available for other interested buyers.

Adedeji also mentioned that from October 1, NNPC Limited will begin selling crude oil to Dangote Refinery in Naira.

However, there is still uncertainty regarding any potential reduction in petrol pump prices, as both Dangote Refinery and NNPC Limited have yet to address pricing matters.

PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!

Source: Legit.ng