Dangote Refinery Confirms Readiness to Meet Nigeria’s Daily Petrol Consumption
- Dangote Petroleum Refinery has responded to a suggestion from NMPRDA that local refineries could not meet daily consumption
- The refinery, owned by Africa's richest man, stated that it now produces 57 million litres of petrol daily
- The confirmation contradict the Nigerian Midstream and Downstream Petroleum Regulatory Authority claim local refineries can't meet Nigerians petrol demands
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Dangote Group has announced that its refinery is now producing 57 million litres of Premium Motor Spirit (PMS), commonly known as petrol, daily.
This was disclosed during a recent tour of the refinery complex by a delegation from Zambia, led by the country’s Minister of Energy, Makozo Chikote, and also Aliko Dangote President of Dangote Industries Limited (DIL) to explore a partnership.
Source: Getty Images
After the tour, Dangote stated that the Dangote Petroleum Refinery has enough petrol in storage to meet Nigeria's domestic demand.
He disclosed that the refinery currently holds over half a billion litres of petroleum products, valued at more than N600 billion.
He added that the refinery is on track to supply 100% of Nigeria's refined petroleum needs, according to BusinessDay.
Dangote said:
"At present, we have over 500 million litres available. The refinery is currently producing sufficient refined products such as gasoline, diesel, and kerosene to fully meet Nigeria's needs. Moreover, this facility isn't just serving Nigeria; it's intended to benefit the entire African continent."
Zambian minister expressed satisfaction
Also, speaking after the tour Zambian minister of Energy expressed admiration for the refinery’s capabilities, particularly its potential to enhance energy security across Africa.
He added that his takeaway from the Dangote Refinery working visit was that the President, Aliko Dangote, is truly focused on the bigger picture for Africa. Punch reports.
Chikote remarked:
“We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.
“Coming to the Dangote Petroleum Refinery, we have learned so many advantages of bringing many players for competition, which has improved the lives of the citizens.”
Dangote group speaks
Expanding on this, Edwin Devakumar, Vice President of Dangote Industries Limited, stated that the refinery is equipped to meet domestic demand while also exporting significant volumes of refined products.
He said:
"The refinery can fully meet our needs. Each day, we produce 104 million litres of lighter products, including 57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel."
Dangote reduces fuel price
Legit.ng earlier reported that Dangote Petroleum Refinery slashed the ex-depot price of PMS, commonly known as petrol, from N950 to N890, effective from Saturday, February 1, 2025.
According to Anthony Chiejina, the group's chief branding and communications officer, the refinery's decision followed a previous adjustment on January 19 in response to increasing crude oil costs.
The refinery urged fuel marketers nationwide to ensure that these savings reach the Nigerian public directly.
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Source: Legit.ng
