Oil marketers on Monday, said that refined petroleum products from the $20 billion Dangote Petroleum Refinery will be sold in naira rather than US dollars.
Dealers in the downstream oil industry also revealed that the registration procedure for marketers at the refinery was still underway, as several businesses continued to register with the facility.
It was also reported that officials from the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the refinery’s management to finalise the price formula for goods generated by the plant.
On January 12, 2023, the Dangote Petroleum Refinery announced the start of production of Automotive Gas Oil (commonly known as diesel) and JetA1 (aviation fuel).
According to the in a statement published by the company, Aliko Dangote, President of the Dangote Group, said:
“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.”
cc: Punch Ng
