Dangote Petroleum Refinery and Petrochemicals in Lagos State has extended the supply date of Premium Motor Spirit (PMS), also known as petrol, from June to mid-July.
Aliko Dangote, the refinery’s President and CEO, ascribed the postponement to a minor delay but assured the public that the premium commodity would be available in the market by the second to third week of July.
On Sunday, Dangote talked to a Senate delegation led by Senate President Godswill Akpabio as they toured the $20 billion complex in Lagos.
He said, “We had a bit of delay but PMS will start coming out by 10th, 15th of July but then we want to keep in the tank to make it to settles. By third week of July, we will be able to sell it in the market.”
Akpabio, for his part, referred to the refinery as the “ninth wonder of the world” and praised Africa’s richest man for the initiative.
The refinery, located in Lagos and controlled by the billionaire businessman, began operations in December with 350,000 barrels per day.
The refinery has begun to deliver diesel and aviation fuel to the country’s marketers.
Oil marketers believe that the price of fuel produced by the Dangote Refinery will be much lower than the present retail costs of imported refined products, which range from N568 to N700 depending on location.
