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Dangote Oil Refinery secures an exclusive deal to supply jet fuel to all Nigerian airlines, stabilizing the aviation sector and marking a major step toward energy self-sufficiency.
Nigerian billionaire Femi Otedola praises the Dangote refinery for its impact on reducing Nigeria's dependency on fuel imports.
The petrochemical complex was previously scheduled to begin churning out premium motor spirit (PMS) in June.
Dangote’s refinery project represents a monumental effort to industrialize Africa and underscores his belief in the continent’s potential to drive its own development.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) expects the Dangote refinery to reduce diesel prices further.
The recent decision to ramp up operations, follows Dangote Refinery’s move to slash diesel prices in Nigeria, marking a substantial decrease from previous rates.
The recent price cut follows the commencement of operations at the Dangote Oil Refinery, a landmark achievement for Nigeria’s pursuit of energy independence.
The marketers have registered for the lifting and distribution of refined petroleum products.
Otedola congratulated Dangote on the launch of the Dangote Oil Refinery, a $20-billion project.
This comes shortly after the mega refinery received its license to refine over 300,000 barrels of Nigerian crude daily in November.
Dangote, who is the richest man in Africa, was honored for his leadership and contributions to the development of the Nigerian economy.
The recent disclosure comes amid a fuel crisis in the country and a spike in global energy prices.
Minister of State for Petroleum Resources Timipre Sylva made the announcement on Aug. 4 in Abuja.