Dangote Refinery’s Vice President of Oil and Gas, Devakumar Edwin, has announced that 44% of the refinery’s petrol (PMS) production can meet Nigeria’s entire daily requirement.
During a press briefing at the refinery on Sunday, Edwin expressed pride in the commencement of petrol lifting, stating: “After 52 years, we have a solution to Nigeria’s PMS supply problem. Our refinery, constructed by a Nigerian company, will produce PMS from local crude to meet Nigeria’s needs and export surplus”.
He added; “If you look at the refinery as a whole, PMS alone, every day, 650,000 barrels of crude if we’re processing, we can generate more than 54 million litres of PMS. And, of course, the refinery has the capacity to produce various other products too. 44% of the production can meet the entire requirement of the country, 56% of the production has to be exported. So, it is a huge refinery. So, it is not only going to be doing import substitution, but it is also going to make Forex generation through export revenue.
Recall the Presidential Committee on the Sale of Crude Oil and Refined Product Chairman, Zacch Adedeji, had earlier confirmed that NNPC Limited will be the sole buyer of petrol from Dangote Refinery, while other products like diesel will be available to willing off-takers.
Adedeji also announced that NNPC Limited will commence selling crude oil to Dangote Refinery in Naira from October 1.
However, uncertainty surrounds potential drops in petrol pump prices, as Dangote Refinery and NNPC Limited remain silent on pricing.
