The Situation Room on Energy Sustainability, a coalition of civil society organisations, has commended the President of Dangote Group, Alhaji Aliko Dangote, on the commencement of Premium Motor Spirit (PMS) production in Nigeria for the first time in almost three decades by Dangote Refinery.
In a statement signed by Dr. Ikenna Nnaji, the group described the milestone achievement as a testament to Dangote’s visionary leadership and commitment to Nigeria’s economic growth and development.
The Dangote Refinery, with a capacity to produce 650,000 barrels per day, is expected to significantly reduce fuel scarcity, leading to lower prices and increased economic activity, which will improve livelihoods, reduce hunger, and save lives.
The group noted that Nigerians have suffered from perennial fuel scarcity, skyrocketing prices, hunger, and even death due to the inability of the country’s refineries to produce, resulting in untold hardships and economic losses.
However, with the commencement of PMS production at the Dangote Refinery, the Situation Room expected a significant reduction in fuel scarcity, leading to improved livelihoods, reduced poverty, and increased access to healthcare and education.
“We wish to express our heartfelt commendation to the President of Dangote Group, Aliko Dangote, on the resumption of Premium Motor Spirit (PMS) production in Nigeria for the first time in almost three decades,” the statement said.
“This milestone achievement is a testament to the visionary leadership and unwavering commitment of Mr. Dangote to Nigeria’s economic growth and development. The Dangote refinery, with its capacity to produce 650,000 barrels per day, is a game-changer for our country’s energy sector.
“For years, Nigerians have suffered from perennial fuel scarcity, skyrocketing prices, hunger, and even death due to the inability of our refineries to produce. This has led to untold hardships, economic losses, and loss of lives. The impact on our economy, healthcare, and education has been devastating.
“However, with the commencement of PMS production at the Dangote refinery, we expect a significant reduction in fuel scarcity, leading to lower prices and increased economic activity, which will in turn improve livelihoods, reduce hunger, and save lives.
“The resumption of PMS production will also lead to reduced fuel scarcity, lower prices, and increased economic activity, resulting in improved livelihoods, reduced poverty, and increased access to healthcare and education due to reduced economic burdens.
“Additionally, this development will save Nigeria billions of dollars in foreign exchange, enhance the local availability of critical fuel for businesses and households, impact billions of dollars of trade in fuel markets regionally and beyond, position Nigeria as a leader in energy production and sustainability in Africa, and encourage private sector investment in the energy sector.”
The group commended Dangote for his perseverance and dedication to making Nigeria self-sufficient in petroleum production despite numerous challenges faced during the refinery’s development.
Nnaji also praised the Federal Government for providing an enabling environment for private sector investment in the energy sector, particularly the crude-for-Naira initiative.
The group, however, urged other private sector players to emulate Dangote’s example and invest in Nigeria’s energy sector to achieve energy sustainability and prosperity.
“We also commend the Federal Government for providing an enabling environment for private-sector investment in the energy sector,” the statement noted.
“The government’s crude-for-Naira initiative, as acknowledged by Mr. Dangote, will contribute to the stability of our currency.
“We urge other private sector players to emulate Mr. Dangote’s example and invest in Nigeria’s energy sector. Together, we can achieve energy sustainability and prosperity for our nation,” it stated.