Dangote Refinery launches first-ever petrol sample, promises to boost fuel security for Nigerians and Africans.

Dangote Group’s President, Aliko Dangote, has formally presented the first-ever sample of petrol, also referred to as Premium Motor Spirit (PMS).

On Tuesday, Aliko Dangote presented the first petrol sample during a broadcast from his 650,000-barrels-per-day refinery in Ibeju-Lekki, Lagos State, which has been conducting a trial production of the product.

“I would like to commend the people of Nigeria and the government of President Bola Tinubu for providing us with the platform for growth, development, and prosperity. I also want to thank him personally for introducing the idea of exchanging crude for Naira. This initiative will contribute to the stability of the Naira.

“With this refinery in operation, we will have a clear picture of Nigeria’s true consumption. We will be able to track every truck and shipload,” he said.

He also stated that his refinery would meet the demands not only of Nigerians but also of sub-Saharan Africa.

Recently, the Federal Government announced that the crude oil supply deal would commence in October.

The management of Dangote Group claimed that IOCs mandated the use of foreign intermediaries for crude oil sales to their refinery, causing local prices to rise due to trading arms adding a $2-$4 markup per barrel to the NUPRC’s official price.

The group further alleged that foreign oil producers appeared to prioritise Asian countries when selling the crude they extract in Nigeria.

Last month, according to the report gathered, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Dangote refinery are locked in a dispute concerning the alleged supply of 29 million barrels of crude oil, with regulatory implications.

Dangote Group criticized NUPRC for ineffective enforcement of the Donestic Crude Supply Obligations, leading to a shortfall in local crude deliveries to the refinery.

NUPRC countered the claim, stating that it had successfully facilitated the supply of over 29 million barrels of crude oil to Dangote during the first half of 2024.

The NUPRC maintained that it had ensured the domestic supply of crude oil to Dangote refinery and other refineries through the monthly production curtailment platform.

In a prompt response, Dangote Group denied receiving the alleged 29 million barrels of crude oil from any supplier.

The spokesperson for the Dangote Group, Anthony Chiejina, said, “We acknowledge NUPRC’s statement that they have facilitated the allocation of 29 million barrels of crude oil to Dangote Petroleum Refinery and Petrochemicals. While we appreciate this allocation, we must clarify that we have yet to receive these cargoes.

“Apart from the term supply we bilaterally negotiated with NNPCL, so far, NUPRC has only facilitated the purchase of one crude cargo from a domestic producer. The rest of the cargoes we have processed were purchased from international traders.”