The Dangote Petroleum Refinery is poised to enter the market with its Premium Motor Spirit (PMS), also known as petrol, following a successful test-run of the product. Industry sources confirm that the product will hit the market soon, with the government and Dangote Group working out modalities for its circulation.
The Nigerian National Petroleum Company Limited (NNPCL) will be the sole authorized distributor of Dangote fuel, according to a government source. This development comes after the refinery faced challenges with crude oil supply and a dispute with the Nigerian Midstream and Downstream Regulatory Authority over alleged substandard diesel production.
The Federal Government’s intervention to supply crude oil to the refinery in local currency appears to be yielding results. The refinery’s management had accused international oil companies of not selling crude to local refiners, instead prioritizing Asian countries.
Nigerians are hopeful that Dangote’s entry into the market will lead to a reduction in pump prices. The company has advocated for direct crude oil purchases from local producers, bypassing international middlemen. With the refinery’s 650,000 capacity and commitment to meeting local demand, this development could mark a significant shift in Nigeria’s petroleum landscape.
