Our Petrol To Reach Filling Stations In 48 Hours, Dangote Announces

Businessman, Aliko Dangote, has announced that petrol produced from his 650,000 barrels per day refining facility will reach fuel stations in the next 48 hours, as the final arrangements with the Nigerian National Petroleum Company Limited are being completed.

Dangote made this known on Tuesday during a press briefing.

“Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours depending on NNPCL,” he said.

Asked to speak on the pricing of the product from his refinery, Dangote said, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.

“As soon as it is finalized, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”

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 troubled 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 and now petrol.

Dangote also added that the introduction of naira for crude will reduce the demand for foreign exchange by 40 percent.

“I want to thank President Bola Tinubu for creating this idea of Naira for crude and Naira for the product. Doing that will give a lot of stability to the Naira and remove 40 percent of the demand for dollars. That’s not just it, there is a lot of round-tripping,” he stated.

He added that it would become possible to track loaded trucks, hence making it easier to compute the national consumption.