After more than a year since its launch in May 2023, the Dangote Refinery on Tuesday produced its first batch of Premium Motor Spirit (PMS), commonly known as petrol, from its 650,000-barrel-per-day facility.

At a press conference, Aliko Dangote, the billionaire businessman and owner of the Lagos-based refinery, described the occasion as a “day of celebration” for Nigerians.

He assured citizens that they would now have access to high-quality petrol, which would contribute to the longevity of vehicle engines. “You won’t encounter the engine problems many have been facing. It won’t happen anymore,” Dangote stated.

He emphasized that the quality of the petrol produced at the refinery would match that found anywhere in the world, including in the United States. “The quality here will be on par with the best globally; we’ll ensure no one surpasses us in terms of quality,” he added.

Dangote also mentioned that once his company finalises arrangements with the Nigerian National Petroleum Company Limited (NNPCL), the product will be released to the market. “As soon as we conclude with the NNPCL, our product will start reaching the market,” he said.

The refinery owner further highlighted the broader economic impact of the refinery, stating, “We will help revitalise industry and manufacturing. We will initiate true import substitution, saving foreign exchange and earning foreign exchange, which will stabilise the naira and help reduce inflation and the cost of living.”

In December last year, Dangote, Africa’s leading industrialist, commenced operations at his $20 billion facility in Lagos, initially processing 350,000 barrels per day. Although the refinery faced regulatory challenges in its early stages, it aims to achieve its full capacity of 650,000 barrels per day by the end of the year.

The refinery has already begun supplying diesel and aviation fuel to marketers in the country and has now started petrol production.