Dangote Refinery Set to Launch Petrol Sales, Report Gives New Date

• Dangote Petroleum Refinery is getting ready to release petrol for Nigerians to buy, and once again, there is speculation about the date
• There have been delays and missed deadlines in July and August, mainly due to crude oil supply issues
• There is strong optimism that the 650,000-barrel-per-day refinery, once fully operational, will significantly address Nigeria's energy needs

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.

The Dangote Refinery is set to release its first batch of Premium Motor Spirit, commonly known as petrol, for Nigerians to purchase starting in September 2024.

This is according to a new Reuters report, citing a note from industry monitor IIR Energy.

The report stated that Dangote refinery is currently undergoing test runs for petrol production, with full operation expected by mid-September.

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Dangote refinery production dates

Aliko Dangote's refinery has missed several production dates due to oil supply issues.

On May 18, Aliko Dangote, Africa's richest person, stated that the refinery would begin producing petrol in June, adding that Nigeria would no longer need to import the product.

In June, the business mogul announced that the refinery would commence the supply of petrol due to a minor delay in July.

However, on July 15, Dangote informed journalists that petrol supply would commence on August 10 and 11.

The speculation on the refinery petrol production continued, with the Independent Petroleum Marketers Association of Nigeria (IPMAN claiming that the refined petrol may sell at around N600 per litre.

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Legit.ng reached Anthony Chiejina, group chief branding and communications officer at Dangote Industries Limited, to learn more about the petrol supply date and alleged prices. No clear answer was given.

He maintained that dates and prices and any other information about the refinery will be announced to the public through the company's official channels.

Meanwhile, the Dangote refinery has produced diesel and other distillate fuels, such as aviation fuel.

Dangote refinery to sell NNPC's 12.5% stake

Legit.ng previously reported that the Dangote Group is reportedly exploring the sale of a 12,5% stake in the newly commissioned refinery to meet its financial obligations.

The global rating agency, Fitch Ratings, disclosed this in its report on the refinery.

The Nigeria National Petroleum Company Limited (NNPC) acquired a 7.25% stake in the facility for $1 billion, with an option to purchase the remaining 12.75% stake by June 2025.

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Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng