Devakumar Edwin, the Vice President of Oil and Gas at Dangote Industries Limited (DIL), has confirmed that Dangote Refinery will commence production of Premium Motor Spirit (PMS), commonly known as petrol, this month.
Edwin made this announcement during a visit by officials from S&P Global, who were conducting a sovereign credit ratings assessment of Nigeria at the Dangote Refinery in Ibeju-Lekki, Lagos.
He reiterated the company’s commitment to starting petrol production as promised earlier, highlighting the refinery’s role in utilizing Africa’s abundant crude oil resources to locally produce refined products. Edwin emphasized that this initiative aims to foster industrial development, create jobs, and boost economic prosperity.
Furthermore, Edwin assured that products from the $20 billion facility meet stringent international standards and are capable of satisfying 100% of Nigeria’s demand for petrol, diesel, kerosene, and jet fuel, with surplus production available for export.
Regarding the economic impact, S&P Global acknowledged that the refinery, with its capacity to process 650,000 barrels per day, could significantly alleviate Nigeria’s foreign exchange challenges and bolster the country’s economic growth.
Ravi Bhatia, Director and Lead Analyst, Sovereign and International Public Finance Ratings at S&P Global, commended the scale and efficiency of the refinery, describing it as the largest single-train refinery complex globally. He emphasized the potential for Nigeria to transition from being a crude oil exporter to a net exporter of refined petroleum products, which could enhance economic stability in the medium term.
The delegation from S&P Global, accompanied by officials from the Federal Ministry of Finance, praised Aliko Dangote, President of Dangote Industries Limited, for integrating advanced technologies and quality control measures into the refinery’s operations.
Currently operating at a capacity of 350,000 barrels per day, the refinery is expected to increase its production to at least 500,000 barrels per day by July/August, focusing on refining petrol and ultra-low sulfur diesel.
Edwin highlighted that the refinery’s design adheres to Euro V specifications and complies with stringent environmental norms set by the US EPA, EU, Department of Petroleum Resources (DPR), and the African Refiners and Distribution Association (ARDA).
He underscored the significance of Dangote Industries Limited managing the entire Engineering, Procurement, and Construction (EPC) process, marking a milestone as the world’s largest single-train refinery complex built by a Nigerian company.
In addition to its production capabilities, the refinery features a self-sufficient marine facility capable of handling the largest vessels globally, further enhancing its operational efficiency and logistical capabilities.
Edwin concluded by emphasizing the refinery’s commitment to producing high-quality, energy-efficient, and environmentally friendly products, positioning it as a cornerstone of Nigeria’s economic transformation in the energy sector.
Nigeria, a prominent oil-producing nation, currently imports refined products due to insufficient operational refineries. The establishment of the Dangote Refinery aims to significantly reduce these imports and meet domestic demand more sustainably.
According to data from the National Bureau of Statistics (NBS), Nigeria spent approximately ₦12 trillion on petroleum product imports in 2023, highlighting the country’s reliance on imported fuels despite being a major crude oil producer.
