The Dangote Petroleum Refinery is poised to begin selling Premium Motor Spirit (PMS), commonly known as petrol, following a successful test run of the product, The PUNCH has learned. The 650,000-barrel-per-day refinery is now in the final stages of rolling out its first commercial batch of fuel.
Industry insiders have confirmed that the product will soon be available on the market. Sources indicate that both the Federal Government and Dangote Group are finalizing the details for the distribution of the petrol, with the Nigerian National Petroleum Company Limited (NNPCL) currently authorized as the sole distributor of the Dangote-produced fuel.
The refinery, which initially aimed to release its first batch of petrol in June, faced delays due to crude oil shortages and a dispute with the Nigerian Midstream and Downstream Regulatory Authority, which alleged that the refinery had produced substandard diesel. The intervention of the Federal Government, which facilitated the supply of crude oil to the refinery in local currency, has helped resolve these issues.
Earlier this year, the Dangote Group had expressed concerns that international oil companies (IOCs) were not selling crude oil to local refineries, preferring instead to export it to foreign markets, particularly in Asia. The group accused the IOCs of inflating crude prices by selling through foreign agents, driving up local costs. Despite claims by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) that it had facilitated the supply of over 29 million barrels of crude oil to the refinery, Dangote officials stated they had yet to receive these allocations.
As the Dangote Refinery prepares to launch its petrol sales, Nigerians are hopeful that the new supply will help reduce the soaring pump prices of PMS across the country.
