LEADERSHIP
For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group. This announcement comes as Dangote officially confirmed the rollout of Premium Motor Spirit (PMS), commonly known as petrol, from the world’s largest single-train refinery with a capacity of 650,000 barrels per day.
Reflecting on the achievement of starting PMS production 28 years after Nigeria’s four refineries ceased domestic refining, Dangote, speaking to the press at the refinery in Ibeju-Lekki, Lagos, emphasised that this development will boost the industrial and manufacturing sectors. He highlighted that the refinery will significantly reduce fuel imports, saving foreign exchange, and will contribute to stabilising the naira, lowering inflation, and reducing the cost of living.
Dangote, accompanied by vice president of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, and group commercial operations director at DIL, Fatima Aliko-Dangote, described this milestone as a transformative moment for Nigeria, ending years of fuel imports.
Dangote expressed gratitude to Nigerians for their support and praised President Bola Ahmed Tinubu for fostering an environment that made the successful launch of the 650,000 barrels per day refinery possible.
He stated, “Today is a momentous occasion because Nigeria has not produced petrol, or gasoline, for many years. As I stand here, I want to extend my gratitude to the people of Nigeria and to President Bola Ahmed Tinubu’s administration for creating the environment that has enabled us to achieve this monumental task.
This development will provide energy for our nation’s growth, development, and prosperity.”
