Nigeria Takes Giant Leap Towards Energy Self-sufficiency As Dangote Refinery Commences PMS Supply
In a groundbreaking move, the Dangote Refinery has begun supplying Premium Motor Spirit (PMS) to the Nigerian National Petroleum Corporation Limited (NNPCL), marking a significant milestone in Nigeria’s quest for energy self-sufficiency.
This initiative, championed by President Bola Ahmed Tinubu’s Administration, aims to reduce reliance on imported refined products and enhance the availability of petroleum products in the domestic market.
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Finance Minister Wale Edun praised President Tinubu’s visionary leadership and commended Alhaji Aliko Dangote for establishing the refinery, which is transforming Nigeria’s oil sector.
The refinery’s state-of-the-art facilities have the capacity to meet Nigeria’s domestic fuel demands efficiently, and the Minister witnessed the loading of the first batch of PMS from the refinery.
The Federal Executive Council (FEC) has approved the supply of crude oil to domestic refineries, including the Dangote Refinery, with payments made in Naira, starting from October 1st.
This development symbolizes a significant step towards achieving Nigeria’s energy goals, with benefits expected to resonate across the economy, from improved foreign exchange earnings to enhanced economic growth.
