After years of waiting, the Dangote Refinery has finally commenced production and distribution of petrol.
The federal government has expressed excitement over this development, stating it marks the return of industrialization in Nigeria.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the event as “epoch-making” and a major win for local refining.
He emphasized that this initiative will ensure energy self-sufficiency and security in Nigeria, ending perennial scarcity and long queues.
However, controversy surrounds the pricing of petrol from the refinery. The NNPC announced a price of N898 per liter, while Dangote Refinery disowned this figure, calling it “misleading and mischievous.”
The company assured Nigerians of quality petroleum products and an end to fuel scarcity.
The refinery’s production capacity is 650,000 barrels per day, with 44% allocated for domestic needs and 56% for export.
This development is expected to reduce Nigeria’s foreign exchange demand by at least 40% and generate foreign earnings through exports.
While some Nigerians are optimistic about this new development, others remain skeptical. With the Petroleum Industry Act (PIA) in place, the national oil company is now a going concern and no longer relies on government support.
As the situation unfolds, one question remains: Did Nigerians wait in vain for the Dangote Refinery to start producing petrol?
Only time will tell if this development will bring the promised relief to the country’s fuel problems.
Also read: Why Protests May Not Hold Despite Fuel Price Hike
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