After months of anticipation and a brief stalemate, the products from Dangote Petroleum Refinery are set to hit the market this month, marking a significant milestone for Aliko Dangote – Africa’s current wealthiest man.
The promise made to Nigerians in July 2023, when the refinery was first commissioned in May, is now becoming a reality, opening up the potential to be one of the largest refineries on the continent.
This green light for production comes hot on the heels of the refinery receiving its sixth one-million-barrel crude cargo, a crucial step in commencing operations.
In a recently cued statement, Aliko Dangote expressed gratitude to President Bola Ahmed Tinubu for his unwavering support and thoughtful advice throughout the realization of this ambitious project.
Applauding Nigerians for their collective effort in ramping up the historic refinery located in Lagos, Dangote assures that products from the 650,000 barrels per day (bpd) refinery will flood the market within the month, pending final regulatory approvals.
Will the off -take ease of the refinery and the minting of petroleum products ease the energy burden on Nigerians?
At the moment, a litre of petrol sells between 550 and 680 Naira and there are speculations that the already high price could double in the coming months, cementing more hardship on Nigerians.
The Nigerian National Petroleum Company (NNPC) Limited had facilitated the delivery of five shipments of crude to the refinery, laying the foundation for this momentous launch.
Noteworthy milestones on the radar include the receipt of the maiden one-million-barrel cargo of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO) on December 8, 2023.
Subsequent phases followed, with the NNPC delivering the second and third shipments on December 20 and 29, 2023, respectively. The fourth and fifth crude shipments from NNPC arrived on January 1 and 5, 2024, illustrating the strategic and consistent supply chain in place.
The refinery’s capacity to load 2,900 trucks daily at its truck-loading gantries emphasizes its scale and efficiency.
Importantly, the products from the Dangote Petroleum Refinery will adhere to Euro V specifications, aligning with global standards for cleaner and more sustainable fuels.
Culled in by Fortune Omosola
