Nigerians nationwide are experiencing immense hardship as the cost of Premium Motor Spirit (Petrol) has skyrocketed to over N1000 per liter in various parts of the country.
This development comes at a time when the Dangote Refinery is offering a beacon of hope to the Nigerian National Petroleum Company Limited (NNPCL) by providing a viable alternative to exit the burdensome petrol importation regime.
Earlier, the 650,000 barrels per day Lagos-based refinery confirmed to journalists that it has commenced production of Premium Motor Spirit (PMS).
According to Anthony Chiejina, Spokesperson of Dangote Group, in an exclusive interview with journalists on Monday, the Dangote petrol is poised to alleviate the perennial fuel queues, boost the country’s productivity, and ensure energy security.
“The Refinery has started producing Premium Motor Spirit. When it gets to commercial quantity and hits the market, you will know,” he stated.
“The aim is to ensure that the product is available and affordable, so that Nigerians will not continue to waste countless hours queuing for fuel, thereby losing valuable man-hours of work.
“Furthermore, Chiejina emphasized the significance of the Dangote refinery’s production, stating,
“All the man-hours lost, productivity lost due to fuel queues, people don’t have to queue. You get your fuel as at when you want it. You can imagine the level of productivity the country will gain.
“The commencement of Dangote Petrol processing comes at a critical juncture, as the NNPCL is grappling with financial strain due to unsustainable supply costs and a staggering indebtedness to oil suppliers amounting to over $6 billion. Olufemi Soneye, spokesperson for the state-owned company, acknowledged the severity of the situation, stating,
“This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply.”
