The Nigerian National Petroleum Corporation (NNPC) has lifted its first batch of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery.
This move is a significant step towards reducing Nigeria’s reliance on imported fuel.
This marks a pivotal moment in the nation’s drive to enhance local refining capacity and ensure energy security.
The Dangote Refinery, the largest in Africa, began producing PMS earlier this year. NNPC’s move to lift PMS from the refinery highlights the start of a long-anticipated partnership between the national oil company and the privately owned refinery, which is expected to significantly reduce Nigeria’s fuel import bill.
According to sources within NNPC, the fuel lift is part of an agreement between NNPC and Dangote Industries Limited, where the national oil company has secured rights to purchase a substantial volume of the refinery’s output.
The move aims to meet the country’s fuel demand while stabilizing prices amid global market fluctuations.
See below;
Dangote Refinery will be pumping out petrol today for the first time today September 15. This is the condition of the refinery as at this morning. May Nigeria succeed pic.twitter.com/PK11AofApP
— Dr Penking™🇳🇬🇦🇺 (@drpenking) September 15, 2024
