Business News of Thursday, 5 September 2024
Source: www.legit.ng
As of Tuesday, September 3, 2024, the Nigerian National Petroleum Company Limited (NNPC) tankers have begun lifting petrol from Dangote’s mega refinery in Lekki.
The refinery’s petrol production offers a new and potentially more efficient supply route for Nigeria’s petrol needs.
Refinery to meet the needs of Africans
Aliko Dangote, Chairman of Dangote Industries Limited, said the refinery can satisfy Nigeria's and Sub-Saharan Africa's petrol demand.
He disclosed that the refinery will also curb round-tripping in the Nigerian oil industry, showing the actual petrol consumption in Nigeria as the company can track every single-loaded truck.
Experts have disclosed that the facility will relieve Nigerians facing acute petrol scarcity.
Dangote assured us that petrol from the $19 billion refinery would be in filling stations within 48 hours.
He said the petrol was of high quality and that the refinery would reduce problems caused by dirty fuel, which causes engine failure.
Dangote to supply NNPC 25 million litres daily
According to a BusinessDay report, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said that the refinery will supply about 25 million litres of petrol to the Nigerian market daily, beginning in September.
The agency disclosed that the supply will rise to 30 million litres subsequently.
The NMDPRA disclosed that it met with the NNPC to agree on crude oil supply to local refineries in naira, including the Dangote Refinery.