After more than a year since its launch in May 2023, the Dangote Refinery in Lagos has produced its first batch of Premium Motor Spirit (PMS), commonly known as petrol. At a press conference on Tuesday, Aliko Dangote, the billionaire businessman and owner of the refinery, described the milestone as a “celebration day” for Nigerians.

Dangote assured citizens that the refinery’s petrol would be of top quality, comparable to any in the world, promising that it would enhance vehicle performance and longevity. “You will not be having engine issues, which a lot of us were having. It won’t happen at all,” he said, emphasizing the refinery’s commitment to quality.

The refinery, with a capacity of 650,000 barrels per day, is expected to significantly impact Nigeria’s fuel supply once the company finalizes agreements with the Nigerian National Petroleum Company Limited (NNPCL). “As soon as we finalize with the NNPCL, our product will start going into the market,” Dangote stated.

He also highlighted the broader economic benefits of the refinery, including supporting industry and manufacturing, saving foreign exchange, and helping to stabilize the naira, which would, in turn, reduce inflation and the cost of living.

The refinery began operations in December 2023, initially producing diesel and aviation fuel, and aims to reach its full capacity by the end of the year. The rollout of petrol comes at a crucial time, as the NNPCL has recently admitted to significant debts to petrol suppliers, which has exacerbated the country’s ongoing fuel scarcity.