Business
Dangote Refinery Begins Petrol Production, Set to Ease Fuel Scarcity
The Dangote Group has announced that its Lagos-based refinery, which has a capacity of processing 650,000 barrels per day, has begun producing Premium Motor Spirit (PMS), commonly known as petrol.
Chiejina explained that similar to how the company had earlier commenced the supply of Automotive Gas Oil (AGO), or diesel, their petrol production is set to alleviate the long-standing fuel scarcity in Nigeria.
He emphasized that the introduction of Dangote Petrol to the market is expected to drastically reduce the time Nigerians spend queuing at filling stations, which has been a major issue for commuters and businesses alike.
“The refinery has already begun producing Premium Motor Spirit,” Chiejina noted. “We narrowly missed launching in August by just a day, but the product will be available on the market very soon.
Just as we did with AGO, we started producing it and in a short period, it reached the market. This same approach is being applied to petrol. By September, once we reach commercial-scale production, the product will be available across the country.”
He further elaborated on the company’s goal of making petrol both available and affordable, which will significantly ease the pressure on Nigerians who have endured long queues at fuel stations and wasted valuable time trying to purchase fuel. The group aims to improve access to petrol and reduce the hours lost due to the ongoing scarcity.
This update from Dangote Group comes at a time when the Nigerian National Petroleum Company Limited (NNPCL) admitted it is grappling with financial challenges concerning the cost of petrol supply.
Over the past weekend, NNPCL’s acknowledgment of the financial strain further exacerbated public anxiety over the country’s ongoing fuel shortages, as citizens continue to struggle with prolonged scarcities.
The entrance of Dangote’s refinery into petrol production is expected to bring much-needed relief to Nigerians and ease the pressure on fuel availability in the country.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.
“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”
It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.
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