In a groundbreaking move poised to revolutionize Nigeria’s energy landscape, the Dangote Refinery has today commenced supply of Premium Motor Spirit (PMS) to the Nigerian National Petroleum Corporation Limited (NNPCL) in a historic transaction settled in Naira.
This bold initiative, championed by President Bola Ahmed Tinubu’s Administration, marks a significant milestone in Nigeria’s quest for energy self-sufficiency and reduced reliance on imported refined products. It also represents a key milestone in the federal government’s commitment to reducing pressure on the Naira and enhancing the availability of petroleum products in the domestic market.
Speaking today at the Dangote Refinery, the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, praised President Bola Ahmed Tinubu’s visionary leadership in advancing Nigeria’s energy sector. He emphasized that this initiative aligns with the President’s vision that no raw materials should leave Nigeria’s shores without adding value.
The Minister also commended Aliko Dangote and the Dangote Group for turning this vision into reality through the establishment of the refinery, noting its role in transforming Nigeria’s oil sector while also acknowledging the work of the technical sub-committee responsible for the implementation of crude sales to local refineries in Naira, chaired by the Executive Chairman of the Federal Inland Revenue Service, Zacch Adedeji
