Truckers in line for lifting of Dangote PMS in Lekki
The Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, has revealed that the Dangote Refinery will not only make Nigeria self-sufficient in refined products but also a net exporter.
Addressing visitors during the ceremonial flag off of PMS lifting at the facility in Lekki, he averred that “If you consider the refinery’s capacity for PMS alone, processing 52,000 barrels of crude each day generates more than 54 million litres of PMS. Additionally, the refinery can produce other products.
According to him, “Specifically, 44% of the refinery’s capacity can meet 100% of domestic needs, while 56% is allocated for export. It is indeed a massive refinery.”
\
Edwin maintained that the refinery would significantly benefit the country’s economy by reducing Nigeria’s foreign exchange demand by at least 40 percent while also generating foreign earnings through exports.
Whereas experts query why its lifted at a very high price of N898 per litre upon its locally produced, Edwin said “It will not only substitute imports but also boost forex generation through export. We will save foreign exchange in two ways: first, by reducing expenditures on importing petrol, jet fuel, diesel, and other products, and second, through the revenue generated from exports,” he said.
He also addressed concerns about tankers overwhelming the Ibeju-Lekki area, as seen in Apapa. Edwin assured that the refinery has made provisions for loading petroleum products via its jetty and emphasised that it includes a self-sufficient marine facility capable of handling the world’s largest vessels.
