Nigeria’s Dangote Refinery Starts Loading Petrol into Trucks, Ending Fuel Queues
In a significant development, Nigeria’s billionaire businessman, Femi Otedola, has welcomed the start of petrol loading at the Dangote Refinery, which began on Sunday. The 650,000 barrels per day Lagos-based refinery is owned by the Nigerian National Petroleum Company Limited (NNPCL). According to NNPCL’s Spokesperson, Olufemi Soneye, the refinery has sold Dangote Patrol to the company at a pump price of N898 per liter.
Soneye revealed that over 70 trucks have been loaded with petrol so far, marking a major milestone in the country’s efforts to address fuel shortages. The development comes as NNPCL confirmed that over 300 trucks arrived at the refinery on Saturday, ahead of the fuel loading.
Reacting to the news, Otedola, who is the Chairman of Geregu Power and First Bank Holding, praised President Bola Ahmed Tinubu for making Dangote Refinery petrol distribution a reality. He noted that with the development, fuel queues are now a thing of the past. "Kudos to President Tinubu for making this a reality! Fuel queues are now a thing of the past as Dangote Refinery starts loading PMS today, Sunday 15 September 2024," Otedola said in a statement.
Meanwhile, Petroleum marketers have expressed expectations of a cheaper petrol price as Dangote Refinery starts loading fuel into trucks. However, they are yet to know the pump price per liter of Dangote Petrol. Earlier, the Nigerian government through the Minister of Finance, Wale Edun, said all agreements had been reached for NNPCL to lift petrol from Dangote Refinery on Sunday.
The development marks a significant step forward in Nigeria’s efforts to address fuel shortages and improve the country’s energy security. The Dangote Refinery, which was officially announced by the President of Dangote Group, Aliko Dangote on September 3, 2024, is expected to increase the country’s refining capacity and reduce reliance on imported fuel.
