PUNCH
The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, has reiterated that the Dangote oil refinery will supply petrol in July as promised.
Edwin said this when he took officials of the S&P Global on a tour of the facility over the weekend.
According to Edwin, the company aims to catalyse a virtuous cycle of industrial development, job creation, and economic prosperity by harnessing Africa’s abundant crude oil resources to produce refined products locally.
He also revealed that “as earlier promised, the company will start the production of Premium Motor Spirit this month.”
The Director and Lead Analyst, Sovereign and International Public Finance Ratings, S&P Global Ratings, Ravi Bhatia, who led the delegation to Lagos, said the Dangote refinery would transform Nigeria into a net exporter of petroleum products, adding that this transformation is expected to boost revenue generation and alleviate the current pressure on the country’s foreign exchange reserves.
Bhatia said, “It is a very impressive facility, able to process 650,000 barrels a day, when in full capacity. It is the largest single-train refinery complex in the world. It came out quite quickly. Nigeria is a big exporter of crude but has issues with importing refined fuels.
