The Federal Government has lauded the commencement of petroleum lifting from the Dangote Refinery as a significant step toward restoring industrialization and local refining in Nigeria.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, led a government delegation to the refinery and described the event as a milestone that renews Nigerians’ hope in local production.
“This is the resumption of Nigeria’s march toward industrialisation. It represents a return to what we once had—local refining and local supply of petroleum products in the Nigerian market. It has been decades since we last achieved this, but we have it today,” Edun said.
Accompanied by Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), and Chairman of the Technical Sub-Committee on Naira-based crude sales, Edun emphasized that this initiative will secure Nigeria’s energy self-sufficiency and bring an end to the country’s long-standing fuel scarcity issues.
Aligning with President Bola Tinubu’s vision, Edun explained that the refinery’s operation fits into the broader goal of adding value to Nigeria’s raw materials before export.
He praised President Tinubu for his foresight in establishing free trade zones and facilitating the supply of crude to local refineries in Naira.
“Commendation is due to His Excellency, Bola Ahmed Tinubu, who facilitated the supply of crude to local refineries in Naira by ensuring that NNPC provides crude to these refineries,” Edun added.
The minister also extended congratulations to Aliko Dangote, President of Dangote Industries Limited, for his unwavering patriotism and achievement in bringing Nigeria back into the fold of refined product producers after nearly three decades.
“We congratulate Dangote, Africa’s foremost businessman and industrialist, and arguably one of the top investors in the world, on this day of triumph and success. They said it couldn’t be done, but today we are all witnesses to the commencement of PMS loading here,” Edun said, calling on other refiners to follow suit and contribute to the local market and export opportunities.
Dangote Industries Limited’s Vice President of Oil and Gas, Devakumar Edwin, noted that the production of PMS from the refinery is a fulfillment of the company’s vision to address Nigeria’s energy supply challenges.
“If you consider the refinery’s capacity for PMS alone, processing 52,000 barrels of crude each day generates more than 54 million litres of PMS. Additionally, 44% of the refinery’s capacity can meet 100% of domestic needs, while 56% is allocated for export,” Edwin explained.
He further assured that the refinery’s design includes provisions for marine-based loading to avoid traffic congestion similar to Apapa and emphasised the economic impact of reducing Nigeria’s foreign exchange demand by 40% while boosting foreign earnings through exports.
