… manufacturing sector, others to benefit from raw materials
The Chairman and CEO of Dangote Group, Alh. Aliko Dangote, has confirmed the first refined Premium Motor Spirit (PMS), also called Petrol from Dangote Refinery and Petrochemicals, will hit Nigeria’s local market by end of July.
Dangote made the disclosure in his remarks at the official commissioning of the 650,000 barrels-per-day Dangote Refinery at Ibeju-Lekki in Lagos State, on Monday.
Speaking on the refinery’s benefits, Dangote said that beyond the constant availability of high-quality fuels for the Transportation Sector, the Refinery will also make available to local industries, vital raw materials for a wide range of manufacturers in the plastics, pharmaceutical, food and beverages, packaging, construction, and many other industries.
He said the latest technology in the facility has a capacity to process 650,000 barrels per day of crude oil (plus 900,000 tonnes of polypropylene) in a single train – which is the largest in the world.
“Also, the products slate is designed to meet the highest quality standards of high-value products including Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), Aviation Turbine Kerosine (ATK); all of Euro V Standards that will enable us not only meet our country’s demand but also to become a key player in the African and global market,” Dangote stated.
The African richest man said that the country’s coastal location and offshore loading and offloading (SPM) facilities with a capacity to receive all its crude oil supplies and evacuate up to 75 per cent of liquid products, offers the facility direct access to the rest of Africa and the global market for exports.
In addition, 80 per cent of the refinery’s production can be discharged through trucks nationwide.
He said the group’s huge investment of over $18.5billion in the oil and gas industry has been prompted by the desire to support and contribute its quota to the Federal Government’s sustained effort to transform the economy and properly position the country as the leading nation in Africa, and a respected member among emerging economies in the world.
“This commissioning ceremony is just the beginning of a great journey, a milestone in a new and exciting trajectory for the Downstream sector of Nigeria’s Oil and Gas Industry. It is our firm commitment that we will replicate in this sector, what we have achieved in the cement and fertilizer markets, where Nigeria transited from being the largest importer of these products to a net exporter.
“Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we are able to fully satisfy our nation’s demand for high quality products to enable us eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic sub-standard petroleum products.”
He added that beyond this, the group intended to ensure that the plants are run at the highest capacity utilisation and highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and the wider Africa region in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand.
Another benefit he noted is that once the plant is fully on-stream, we expect that at least 40 per cent of the capacity will be available for export and this will result in significant Foreign Exchange inflows into the country.
