The President of Dangote Group, Aliko Dangote, has presented the first sample of Premium Motor Spirit (PMS), commonly known as petrol.
Dangote made the presentation on Tuesday during a broadcast at his refinery located in the Ibeju-Lekki area of Lagos State.
The refinery, with a capacity of 650,000 barrels per day, has been engaged in a test run of the product.
“I would like to commend the people of Nigeria and the government of President Bola Tinubu for providing us with the platform for growth, development, and prosperity. I also want to thank him personally for introducing the idea of exchanging crude for Naira. This initiative will contribute to the stability of the Naira.
“With this refinery in operation, we will have a clear picture of Nigeria’s true consumption. We will be able to track every truck and shipload,” he said.
He also stated that his refinery would meet the demands not only of Nigerians but also of sub-Saharan Africa.
The management of Dangote Group also claimed that the IOCs insisted on selling crude oil to their refinery through foreign agents, asserting that the local price of crude would continue to rise because trading arms offered cargoes at $2 to $4 per barrel above the NUPRC’s official price.
The group further alleged that foreign oil producers appeared to prioritise Asian countries when selling the crude they extract in Nigeria.
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