Dangote Refinery Launches Euro-V Petrol, Paves Way for Local Fuel Production

Dangote Refinery Launches Euro-V Petrol, Paves Way for Local Fuel Production

In a major milestone for Nigeria’s energy sector, the Dangote Refinery has commenced the production of Premium Motor Spirit (PMS), commonly known as petrol, marking the first time in nearly three decades that Nigeria will produce fuel domestically. The refinery, the world’s largest single-train facility with a capacity of 650,000 barrels per day, is expected to transform the country’s fuel industry and reduce dependence on imports.

Speaking at the refinery’s launch in Ibeju-Lekki, Lagos, Aliko Dangote, President of Dangote Group, expressed optimism that this development will not only stabilize the naira but also reduce inflation and the cost of living. He highlighted that the production of Euro-V grade petrol will save foreign exchange by significantly cutting fuel imports and boosting the country’s industrial sector.

“This is a transformative moment for Nigeria,” Dangote said. “For the first time in years, we will be able to accurately track our true fuel consumption, thanks to the production from this refinery. This will also help stabilize the exchange rate by reducing the demand for dollars in the market by 40%.”

Accompanied by key executives, including Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), and Fatima Aliko-Dangote, Group Commercial Operations Director, Dangote described the refinery as a game-changer for Nigeria and the broader Sub-Saharan region. He credited President Bola Ahmed Tinubu’s administration for creating a supportive environment that made the project possible.

While showcasing a sample of the Euro-V petrol, Dangote assured that the refinery will ensure a steady supply of high-quality fuel, with production aimed at both domestic and regional markets. However, he clarified that the Nigerian National Petroleum Corporation Limited (NNPCL) will remain responsible for controlling petrol prices.

“This refinery is capable of meeting Nigeria’s fuel needs and supplying the broader region. While I can guarantee the availability of fuel, NNPC will manage the pricing,” Dangote stated.