In a significant milestone for Nigeria’s oil and gas industry, the Dangote Refinery is expected to start producing Premium Motor Spirit (PMS), also known as petrol, this month. This announcement was made by Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), during a visit by officials from S&P Global, an international financial analytics corporation.
The Dangote Refinery, located at Ibeju-Lekki, Lagos, is a $20 billion facility with a production capacity of 650,000 barrels per day. According to Edwin, the refinery will produce high-quality products that meet international standards, including Euro V specifications. He emphasized that the refinery is designed to process a wide range of crudes and will produce petrol, diesel, kerosene, and jet fuel, meeting 100% of Nigeria’s demand and leaving surpluses for export.
S&P Global’s team, led by Director and Lead Analyst, Sovereign and International Public Finance Ratings, Ravi Bhatia, commended the refinery’s advanced technologies and quality control measures. They noted that the refinery has the potential to transform Nigeria into a net exporter of petroleum products, resolving the country’s foreign exchange issues and accelerating economic development.
Currently operating at 350,000 barrels per day capacity, the refinery is expected to scale up to at least 500,000 barrels per day by July/August. Edwin expressed pride that a Nigerian company designed and built the world’s largest single-train refinery complex, handling its Engineering, Procurement, and Construction (EPC) contracting.
The Dangote Refinery’s production will significantly impact Nigeria’s economy, which currently imports an estimated 50 million liters of petrol daily to meet domestic demand. According to the National Bureau of Statistics (NBS), Nigeria spent approximately ₦12tn importing petroleum products in 2023, including petrol. The refinery’s production will help reduce this dependence on imports and conserve foreign exchange.
This development is a testament to the vision of Aliko Dangote, President of Dangote Industries Limited, who has integrated advanced technologies and quality control measures to ensure the smooth automation of operations. The refinery’s state-of-the-art Central Control Unit and self-sufficient marine facility, capable of handling the world’s largest vessels, demonstrate its commitment to excellence.
The commencement of petrol production at the Dangote Refinery marks a significant milestone in Nigeria’s journey towards energy self-sufficiency and economic prosperity.
