The first set of trucks from the Nigerian National Petroleum Company Limited (NNPCL) has successfully lifted Premium Motor Spirit (PMS), also known as petrol from the Dangote Refinery.

Tribune Online reports on Saturday that ahead of the commencement of the petrol lifting from the 650,000 barrels per day refinery, over 100 trucks from the nation’s oil company have arrived at the refinery.

According to a video tweet on the verified page of the Dangote Group on Sunday, the trucks were seen loading petrol from the refinery at Ibeju-Lekki, Lagos State. 

Speaking to newsmen at the refinery on Sunday, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin (M), described the commencement of the petrol lifting moment of pride to every Nigerian.

He said, “My President has been showing presentations that 52 years ago, we were trying to see how to solve the problem of PMS supply and the queues. Now, after 52 years, we have a solution. And the solution is local production of PMS and it is from a Nigerian oil company. And as EPC contractor, it was constructed by a Nigerian company. So, it’s a matter of pride that a Nigerian oil company, constructed by a Nigerian-owned company, is able to generate PMS from the local crude and daily will not only to meet the entire requirement of Nigeria, but can also have surplus to export. So, it is a time and moment of great pride to every Nigerian.”

Reacting to a question on the capacity of the refinery to meet the daily PMS requirement of the country, Edwin said 44 per cent of the PMS production from the Dangote refinery can meet the requirement of the entire country.

“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.

“The gantries are actually 86. and it can load 86 trucks at a go,” he said.

Recall that a member of the Presidential Committee on the Sale of Crude Oil and Refined Product and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, confirmed on Friday while speaking to newsmen in Abuja that the NNPCL remains the sole buyer of petrol from the Dangote refinery while willing off-takers are free to lift diesel and other products from the refinery. 

According to Adedeji, the NNPCL will further distribute to other independent marketers after lifting from the refinery. He also added that the nation’s oil company will commence the sale of crude oil to the Dangote refinery in Naira from October 1.

However, while petrol lifting has commenced by the NNPCL at the Dangote refinery, uncertainties still surround possible drop in petrol pump prices as both the refinery and the nation’s oil company are still mute on pricing. 

Meanwhile, the billionaire businessman, Aliko Dangote, had earlier on September 3, during the official rollout of petrol from his refinery, explained that the NNPCL determines the price, assuring that the refinery will ensure the products are available in the market.

However, Olufemi Soneye, the Chief Corporate Communications Officer for NNPCL, last week disclosed that global market forces influence the pricing of petroleum products from any refinery, including Dangote Refinery Ltd, stating that lifting of petrol from the indigenous refinery does not guarantee a drop in pump price.