Nigerians across the country are groaning as the cost of Premium Motor Spirit (Petrol) has hit over N1000 per liter in many parts of the country.
This comes as Dangote Refinery offers the Nigerian National Petroleum Company Limited a lifeline to exit the petrol importation burden.
Earlier, the 650,000 barrels per day Lagos-based refinery confirmed to Journalists that it has commenced PMS production.
According to the Spokesperson of Dangote Group, Anthony Chiejina, in an exclusive interview with Journalists on Monday, the Dangote petrol would ease endless fuel queues, foster the country’s productivity and ensure energy security.
“The Refinery has started producing Premium Motor Spirit. When it gets to commercial quantity and hits the market, you will know”, he told Journalists
“The aim is to ensure that the product is available and affordable, so that Nigerians will not continue to queue endlessly losing man-hours of work.
All the man-hours lost, productivity lost due to fuel queues, people don’t have to queue. You get your fuel as at when you want it. You can imagine the level of productivity the country will gain”, he added.
Dangote Petrol processing kick-off comes amid the anxiety created by NNPCL’s admission of financial strain over sustainable supply costs and indebtedness to oil suppliers amounting to over $6 billion.
The state-owned company’s spokesperson, Olufemi Soneye said at the weekend that, “This financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply”.