Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited (DIL), has confirmed that the Dangote Oil Refinery and Petrochemicals company will begin production of Premium Motor Spirit (PMS), also known as petrol, this month. This milestone marks a significant step towards harnessing Africa’s abundant crude oil resources to produce refined products locally.
The $20 billion facility, located in Ibeju-Lekki, Lagos, has the capacity to produce 650,000 barrels per day, making it the largest single-train refinery complex in the world. According to Edwin, the refinery will meet 100% of Nigeria’s demand for petrol, diesel, kerosene, and aviation jet fuel, with surplus products available for export.
International financial analytics corporation, S&P Global, has praised the refinery, stating that it has the potential to resolve Nigeria’s foreign exchange issues and boost the country’s economic development. The refinery’s production will transform Nigeria into a net exporter of petroleum products, generating revenue and alleviating pressure on the country’s foreign exchange reserves.
The Dangote Oil Refinery has been designed to process a wide range of crudes and meets Euro V specifications, conforming to international standards. The facility incorporates advanced technologies and quality control measures, including a state-of-the-art Central Control Unit ensuring smooth automation of operations.
The refinery’s production will commence at 350,000 barrels per day, scaling up to 500,000 barrels per day by July/August. This development is expected to have a positive impact on Nigeria’s economy, creating jobs and stimulating industrial development.
In a visit to the refinery, S&P Global’s team, led by Director and Lead Analyst, Ravi Bhatia, commended Aliko Dangote, President of Dangote Industries Limited, for integrating advanced technologies and quality control measures. The team praised the refinery’s potential to transform Nigeria’s oil sector and boost the country’s economic growth.
