Market News
Dangote refinery to supply 25 million litres of petrol daily - PUNCH
By Dare Olawin
The Dangote oil refinery will supply a total of 25 million litres of petrol to the Nigerian market daily starting from September.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority 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.
The PUNCH reports that the President of the Dangote Group, Aliko Dangote, formally announced that the 650,000-capacity oil refinery in Lagos has commenced petrol production.
In a live broadcast on Tuesday, Dangote said the supply of petrol into Nigeria would change the country’s energy landscape.
While appreciating President Bola Tinubu for approving the sale of crude in naira to local refineries, Dangote said many did not believe that the $20bn refinery could start petrol production.
He said the capacity would meet local demands and the demands of sub-Saharan Africa.
