We are financially capable to meet demands of Nigeria, other countries — Dangote

Aliko Dangote, Chairman of the Dangote Group, has announced that the refinery is financially capable of meeting the demands of Nigeria and other countries, as it has rolled out its first Premium Motor Spirit (PMS), also known as petrol, from its 650,000 barrels per day facility.

Speaking to the press on Tuesday, Dangote described this achievement as a significant milestone for the country, which had not produced a single liter of petrol for many years.

He acknowledged that many Nigerians doubted the project would ever succeed.

Dangote expressed his gratitude to Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, for his unwavering dedication over the seven years it took to complete the project.

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He also commended President Bola Ahmed Tinubu for creating a conducive environment that allowed the 650,000-barrel-per-day refinery to become a reality.

Dangote said, ”This is a very special day. I believe Nigeria has not produced petrol, which is gasoline, for many years. Standing here today, I would like to salute the people of Nigeria and the government of President Bola Ahmed Tinubu for creating an enabling environment for us to thrive and achieve this monumental task of providing energy to our people for growth, employment, and prosperity.

I think this has been a truly noble achievement.

I want to personally thank President Bola Ahmed Tinubu for creating the idea of Naira for crude and Naira for the product. Doing this will bring stability to the Naira.

”Right now, you will remove 40% of dollars from the market. With this refinery now operational, it will reveal Nigeria’s true consumption. We can track every single loaded truck and will try our best to monitor the loaded ships as well.

”Today is a day to celebrate and thank God Almighty for bringing us to the stage of producing gasoline. I know many people doubted our ability to deliver, but we have proven them wrong.

”I especially want to thank Mr Edwin, Vice President of Oil and Gas, for his sleepless nights and lack of vacations over the last seven years, and Mrs Alake for ensuring everything was perfect, including the finances, so we could meet this challenge.

”This refinery will entirely change the dynamics, not only in Nigeria but also in Sub-Saharan Africa. The capacity we have will not only meet Nigeria’s demands but also those of Sub-Saharan Africa, at least. You might see it in different colours, but this is the real deal.

”You will now have good quality petrol that will make your vehicle engines last longer, with no more engine issues that many of us were facing. The quality of our petrol will match that of anywhere in the world, including the U.S.

We will ensure that nobody beats us in terms of quality. Today is a day to give thanks to God, the President, and our friends who have been so supportive, keeping us on our toes, giving us sleepless nights to ensure we did not disappoint them.”