Dangote PMS Will Hit Market Next Month – Report

Dangote Refinery is set to supply Premium Motor Spirit (PMS) popularly known as petrol to marketers next month, May 2024, according to sources familiar with the matter.

The refinery began distribution of diesel and aviation jet fuel to domestic marketers at 1,225/ltr, a development that might reduce the retail price of both products in the coming months.

According to Bloomberg report, the new mega-refinery will begin supply of PMS in the domestic market in May, significantly reducing Nigeria’s dependence on imported petroleum products.

The refinery, which began its operations in January, made its first export last month, shipping 65,000 metric tons of low-sulfur straight run fuel oil and approximately 60,000 tons of naphtha.

The facility is operating at an initial processing rate of 350,000 barrels per day, with plans to increase towards its maximum capacity.

According to Abubakar Maigandi, the leader of an industry organization, marketers have started transporting diesel from the refinery and will make payments in naira.

“We are still finalizing the details of the volumes that we are going to take from Dangote as an association and we also haven’t finalized on the price,” he said.