Seven prominent oil marketers in Nigeria have been given the green light to sell fuel produced by the Dangote Petroleum Refinery, a massive $20 billion project.
Quest Times reports that members of the Major Oil Marketers Association of Nigeria confirmed their registration with the refinery, expressing plans to start distributing the refined products once commercial terms are finalized.
In a related development, the Independent Petroleum Marketers Association of Nigeria announced intentions to meet with Dangote refinery management this week to discuss terms for loading products.
The Petroleum Products Retail Outlets Owners Association of Nigeria also noted ongoing engagements for product supply from the facility.
Aliko Dangote, President of the Dangote Group, in a statement issued by the firm, expressed gratitude to President Bola Tinubu and various regulatory bodies for their support in realizing the project.
He disclosed that the refinery had begun producing diesel and aviation fuel, with products expected in the market this month pending regulatory approvals, stating, “We have started the production of diesel and aviation fuel, and the products will be in the market within this month once we receive regulatory approvals. This is a big day for Nigeria. We are delighted to have reached this significant milestone.
“This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. This is a game changer for our country, and I am very fulfilled with the actualisation of this project.”
Situated in Lagos, the refinery has received six million barrels of crude oil to date, and its truck-loading gantries can handle 2,900 trucks daily.
Moreover, the produced products adhere to Euro V specifications, and the refinery design aligns with global emission norms, utilizing state-of-the-art technology.
Covering approximately 2,635 hectares in the Lekki Free Trade Zone, the Dangote Petroleum Refinery, with a daily crude oil refining capacity of 650,000 barrels, marks a significant milestone for Nigeria, showcasing the nation’s capability to execute substantial capital projects.