The Dangote Refinery has rolled out its first Premium Motor Spirit (PMS), also known as petrol, from its 650,000 barrels per day facility.
Disclosing this at a press conference in Lagos state today September 3, owner of the Lagos-based refinery and billionaire businessman, Aliko Dangote, assured Nigerians that they are now going to have good petrol while the engines of vehicles will last longer.
‘’You will not be having an engine issue, which a lot of us were having. It won’t happen at all. The quality here will match that of anywhere in the world; US, America, we will make sure that nobody will beat us in terms of quality,” Dangote said
The billionaire businessman stated that as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market.
“As soon as we finalise with the NNPCL, our product will start going into the market. We will help to restore industry and manufacturing. We will begin real import substitution, which is what we have, you know, saving foreign exchange, earning foreign exchange, which will stabilise the naira, and it will also help bring down inflation and cost of living,” he stated.
Last December, Dangote, Africa’s leading industrialist, commenced operations at his $20bn facility sited in Lagos with 350,000 barrels a day.
The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year.
The refinery has begun the supply of diesel and aviation fuel to marketers in the country.
Watch a video of him speaking below…