Dangote refinery sold petrol at N898 per litre, says NNPC
…Kudos to Tinubu for making this reality’- Otedola
…44% of our PMS production can meet entire requirement of Nigeria
The Nigerian National Petroleum Company Limited (NNPCL) has revealed that Dangote Refinery sold fuel to them at N898 per litre.
NNPCL began loading on Sunday, after moving about 300 trucks to the 650,000 capacity refinery in Lagos.
But their spokesman, Olufemi Soneye, has now clarified the price at which they bought it.
“We successfully loaded PMS at the Dangote Refinery today,” Soneye told Newsmen
“The claim that we purchased it at N760 per liter is incorrect.
“For this initial loading, the price from the refinery was N898 per liter.”
At least, over 70 trucks have been loaded so far.
44% of our PMS production can meet entire requirement of Nigeria —
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.
Dangote Refinery Petrol: ‘Kudos to Tinubu for making this reality’- Otedola
Nigeria’s billionaire businessman, Femi Otedola, has reacted as Dangote Refinery started loading its petrol into trucks on Sunday.
Salient Times reports that the 650,000 barrels per day Lagos-based refinery began loading its petrol in trucks belonging to the Nigerian National Petroleum Company Limited.
The development comes as NNPCL had on Saturday confirmed that over 300 trucks arrived at Dangote Refinery ahead of loading of fuel on Sunday.
Reacting, Otedola, who is the Chairman of Geregu Power and First Bank Holding, lauded President Bola Ahmed Tinubu for making Dangote Refinery petrol distribution come alive.
He added that with the development, fuel queues are now a thing of the past.
“Kudos to President Tinubu for making this a reality! Fuel queues are now a thing of the past as Dangote Refinery starts loading PMS today Sunday 15 September 2024”, he said in a terese statement.
Meanwhile, Petroleum marketers have expressed expectations of a cheaper petrol price as Dangote Refinery starts loading fuel into trucks.
However, the marketers had earlier said they are yet to know the pump price per liter of Dangote Petrol.
Earlier, the Nigerian government through the Minister of Finance, Wale Edun said all agreements had been reached for NNPCL to lift petrol from Dangote Refinery on Sunday.
On September 3, 2024, the President of Dangote Group, Aliko Dangote officially announced the rollout of Petrol from Dangote Refinery
