The planned target date of June 2024 for the production of Premium Motor Spirit (PMS ) or petrol by the Dangote Petroleum Refinery and Petrochemicals Company is longer feasible. The date has now been shifted to July 2024.
Aliko Dangote, President and Chief Executive Officer of the refinery, attributed the postponement to slight delay but assured the public that by second to third week in July, the premium commodity would be in the market.
Dangote disclosed this latest development when he received a Senate delegation led by Senate President Godswill Akpabio, on a tour of the $20 billion facility in Lagos.
He said, “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.”
On his part, Akpabio referred to the refinery as the 9th wonder of the world, commended the Africa’s richest man for the refinery project.
The refinery sited in Lagos commenced operations last December with 350,000 barrels a day. It has begun the supply of diesel and aviation fuel to marketers in the country.
Oil marketers are optimistic that the price of petrol by the Dangote Refinery should significantly be lower than the current retail prices of the imported refined product which range from N568 to N700 depending on the part of the country.