The Nigerian National Petroleum Corporation Limited (NNPC) has commenced the lifting of refined petrol from the Dangote Petroleum Refinery.
This major development follows an announcement by the federal government that the refinery would begin distributing petrol to NNPC by September 15, 2024.
The news was confirmed on Sunday through a tweet posted on the official X account of the Dangote Group. The post highlighted the milestone with the declaration: “NNPC begins PMS lifting at the Dangote Petroleum Refinery.”
The tweet was accompanied by images showing multiple petrol tankers being loaded at the refinery’s fuel loading gantry.
This marks a significant achievement in the partnership between Dangote Refinery and NNPC, as it contributes to Nigeria’s domestic petrol supply chain.
Femi Soneye, the Chief Corporate Communications Officer (CCCO) of NNPC Ltd, had earlier disclosed on Saturday that by the end of the day, at least 300 trucks would be stationed at the refinery’s loading gantry.
These trucks were in preparation for the commencement of petrol lifting scheduled for Sunday, September 15, 2024.
The arrival of these trucks, now actively involved in lifting petrol from the refinery, is a testament to the operational readiness of the Dangote Refinery.
It signals a critical phase for the refinery, which has been long awaited by stakeholders in Nigeria’s energy sector.
The Dangote Refinery, located in the Lekki Free Trade Zone, is Africa’s largest oil refinery and the world’s largest single-train refinery.
The refinery has a capacity to process 650,000 barrels per day (BPD) of crude oil, further positioning Nigeria as a hub for petroleum products.
Prior to the refinery’s launch, Nigeria relied heavily on imported refined petroleum products, despite being Africa’s largest crude oil producer.
This dependency on fuel imports has contributed to numerous challenges, including fuel shortages, high costs, and the devaluation of the Naira.
The launch of petrol distribution by the Dangote Refinery aims to address these challenges by boosting local production and reducing the reliance on imported fuel.
However, some key details regarding the new arrangement remain undisclosed.
Critical factors such as the pricing of crude oil and the Naira exchange rate are still to be revealed by the federal government.
These elements will likely play a significant role in shaping the future impact of the agreement on Nigeria’s energy market and economic landscape.
The Dangote Refinery is a $19 billion investment by Nigerian billionaire and industrialist, Aliko Dangote.
The refinery’s primary aim is to transform Nigeria into a global leader in petroleum refining and fuel distribution.
For years, Nigeria’s energy sector has been plagued by inefficiencies, corruption, and underutilization of domestic refining capacity.
Most of Nigeria’s refineries have either been non-functional or operating at minimal capacity, forcing the country to rely on expensive fuel imports.
