Dangote Refinery Seals Landmark Deal to Supply Up to 65 Million Litres of Petrol Daily, Eyes Surplus Exports
In a major boost to Nigeria's energy security and economic independence, the Dangote Petroleum Refinery & Petrochemicals has finalized an offtake agreement with 12 major petroleum marketing companies to supply between 60 and 65 million litres of Premium Motor Spirit (PMS, commonly known as petrol) daily to the domestic market. Aliko Dangote, President of the Dangote Group, announced the development, stating: “We have agreed an offtake framework to supply up to 65 million litres daily for the domestic market. Any surplus, estimated at between 15 and 20 million litres, will be exported.” This arrangement positions the refinery to not only meet but exceed Nigeria's current national petrol consumption, which averages between 50 and 60 million litres per day. By surpassing domestic demand, the initiative marks a historic shift away from Nigeria's decades-long reliance on imported refined petroleum products, which have historically led to foreign exchange pressures, supply ...