Dangote Petroleum Refinery and Petrochemicals, situated in Lagos State, has announced a postponement in the supply date for Premium Motor Spirit (PMS), commonly known as petrol, from June to mid-July.
Aliko Dangote, the President and Chief Executive Officer of the refinery, cited a slight delay for the shift in schedule but assured the public that the premium commodity would be available in the market by the second to third week of July.
Speaking during a visit by a Senate delegation led by Senate President Godswill Akpabio to the $20 billion facility in Lagos on Sunday, Dangote outlined the revised timeline for PMS availability.
He stated, “We had a bit of delay, but PMS will start coming out by 10th, 15th of July but then we want to keep in the tank to make it to settles. By third week of July, we will be able to sell it in the market.”
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Acknowledging the significance of the refinery project, Akpabio referred to it as the “9th wonder of the world” and commended Aliko Dangote, Africa’s richest man, for his contributions to the initiative.
The refinery, which commenced operations last December with a capacity of 350,000 barrels per day, has already begun supplying diesel and aviation fuel to marketers in the country.
Oil marketers anticipate that the petrol price offered by Dangote Refinery will be substantially lower than the current retail prices of imported refined products, which range from N568 to N700 depending on the region.
