Aliko Dangote, the Chairman of the Dangote Group, expressed confidence that Nigeria will no longer need to import Premium Motor Spirit (PMS) by June 2024. He made this statement during the Africa CEO Forum Annual Summit in Kigali.
Dangote indicated that Nigeria is expected to produce 650,000 barrels per day of refined fuel products by June, eliminating the need for fuel imports.
He emphasized that apart from gasoline, Nigeria currently has no reason to import any other fuel products. Dangote projected that within the next four or five weeks, Nigeria would not import a single litre of gasoline.
However, according to a report by Standard and Poor’s Global Commodities (S&P) in April, Dangote’s $20 billion refinery is anticipated to commence fuel supply in the third quarter of 2024. Last month, the refinery began supplying diesel and aviation fuel in Nigeria.
The refinery, with its capacity, is poised to cater to the gasoline needs of West and Central Africa.
