The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that the $20bn Dangote Refinery in Lagos will supply the Nigerian market with 25 million litres daily this September.
The regulator added that starting in October, the 650,000 barrels per day facility will pump 30 million litres daily into the Nigerian market.
In a post on X (formerly Twitter), the regulator further said at a meeting in Abuja on Tuesday, the NMDPRA and the Nigerian National Petroleum Company Limited (NNPCL) reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.
“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million liters daily from October 2024,” the post read.
Thelagostimes had earlier reported that Dangote Refinery, on Tuesday, rolled out its first Premium Motor Spirit (PMS), also known as petrol, from its mammoth facility located in the Lekki area of Lagos State.
The refinery owner and billionaire businessman Aliko Dangote said as soon as his company finalises modalities with the NNPCL, the product will hit the market.