… Exports 20m Litres Surplus
In a landmark shift for Nigeria’s downstream petroleum sector, Dangote Petroleum Refinery & Petrochemicals will provide between 60 and 65 million litres of Premium Motor Spirit (PMS) each day to fulfill nationwide demand, successfully positioning the nation for sustained gasoline self sufficiency whereas exporting as much as 20 million litres in surplus.
President of Dangote Group, Aliko Dangote, disclosed the event in Lagos, confirming {that a} structured offtake settlement has been concluded with chosen entrepreneurs to make sure nationwide distribution and remove provide instability.
“We have agreed an offtake framework to supply up to 65 million litres daily for the domestic market,” Dangote mentioned. “Any surplus, estimated at between 15 and 20 million litres, will be exported.”
Nigeria’s common each day petrol consumption stands at between 50 and 60 million litres. The refinery’s output subsequently exceeds present home necessities, marking a decisive break from a long time of gasoline import dependence and recurrent shortage.
Under a revised distribution framework endorsed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the refinery will channel nationwide provide by main advertising corporations, together with MRS Oil Nigeria Plc, Nigerian National Petroleum Company Limited Retail (NNPC), 11 plc (Mobil Producing Nigeria), TotalEnergies Marketing Nigeria Plc, Rainoil Limited, Northwest Petroleum & Gas Company Limited, Ardova Plc, Bovas & Company Limited, AA Rano Nigeria Limited, AYM Shafa Limited, Conoil and Masters Energy.
The structured mannequin is designed to remove provide bottlenecks and curb speculative practices which have traditionally triggered disruptions.
The improvement indicators what trade analysts describe as a vital structural reform in Nigeria’s gasoline provide chain. For a long time, Africa’s largest crude oil producer relied closely on imported refined merchandise, exposing the economic system to overseas change volatility, logistics disruptions and periodic shortages.
With native refining now exceeding nationwide demand, the nation stands to preserve billions of {dollars} yearly in overseas change beforehand spent on petrol imports. Analysts say this would ease strain on the naira, strengthen exterior reserves, and enhance commerce stability stability.
The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Bashir Ojulari, had throughout a current go to to the ability described the refinery as a transformative nationwide asset able to redefining Nigeria’s vitality safety structure and accelerating industrial development.
He described the refinery as a supply of nationwide delight and an instance of Nigeria’s capacity to leapfrog legacy industrial constraints by the adoption of best-in-class international know-how.
Commending its operational efficiency, Ojulari mentioned the plant had exceeded expectations.
“This plant was designed for 650,000 barrels per day. None of us thought it would even touch 550,000. What we saw live today was 661,000. These are live parameters, not reports or photographs,” he acknowledged.
