Business

Dangote Refinery showcases first petrol, says supply will stabilise naira

Dangote Refinery showcases first petrol, says supply will stabilise naira

 

Chairman of Dangote Industries Limited, Aliko Dangote, has officially announced the commencement of petrol (Premium Motor Spirit), production at his refinery in Lagos.

Dangote announced the milestone on Tuesday, showing a bottle of the petrol from the refinery and noted that it’s of high standard comparable.

Dangote expressed gratitude to President Bola Tinubu’s administration for fostering an environment conducive to the success of the initiative.

“I salute the people of Nigeria and President Bola Tinubu’s government for creating the conditions that allowed us to achieve this monumental task.

“This refinery will drive growth, development, and prosperity by providing energy to our people,” Dangote stated.

He also praised Tinubu for the “Naira for crude, Naira for product” initiative, which he believes will stabilise the Naira by reducing the demand for dollars by 40%.

“As we have this refinery working, it will show the true consumption of Nigeria; we can track every loaded truck and ship.

“We can track every single loaded truck and we will try as much as possible to track the loaded ships.”

He said the refinery is designed to meet the demands of not only Nigerians but also those in sub-Saharan

AddThis Website Tools
Trends Admin

Recent Posts

Hundreds of Boko Haram suspects arrested in Lagos – CJTF

Hundreds of Boko Haram suspects arrested in Lagos - CJTF Hundreds of suspected Boko Haram…

1 hour ago

Arsenal stun Real Madrid to reach first UCL semi-final in 16 years

Arsenal stun Real Madrid to reach first UCL semi-final in 16 years Arsenal pulled off…

1 hour ago

Northern youths promise Tinubu two million votes in 2027

Northern youths promise Tinubu two million votes in 2027 In a bold show of political strength and…

2 hours ago

FCT traffic service confirms sale of number plates by touts

FCT traffic service confirms sale of number plates by touts The Directorate of Road Traffic Services (DRTS),…

2 hours ago

$2.3bn Siemens power project idle before Tinubu came – Minister

$2.3bn Siemens power project idle before Tinubu came – Minister The Minister of Power, Adebayo Adelabu, has…

2 hours ago

Filling stations yet to reduce petrol price after Dangote slashes rate

Filling stations yet to reduce petrol price after Dangote slashes rate For the second time in one…

2 hours ago