Aliko Dangote, President of Dangote Group, announced on Monday that the release of premium motor spirit (PMS) from the Dangote refinery would be delayed until July.
Dangote assured that the product would be available between July 10 and 15, after which it would be kept in tanks to settle before entering the market in the third week of July. Last month, Dangote announced plans to start selling PMS in June, aiming to end Nigeria’s petrol imports.
Speaking at the Africa CEO Forum Annual Summit in Kigali, Rwanda, he expressed confidence in transforming Africa’s energy landscape.
Dangote’s announcement was welcomed by marketers and Nigerians, who hope that the refinery’s operations will significantly reduce petrol prices from around N700 to N500 or below. He emphasized the refinery’s capacity to produce enough fuel for domestic consumption and for export to other countries, including Brazil and Mexico.