Nigeria Takes Major Step Toward Energy Self-Sufficiency: Diesel and PMS Now Manufactured Locally
In a historic move, Nigeria has successfully commenced the local production and sale of Diesel and Premium Motor Spirit (PMS) for the first time in years, marking a significant milestone in the nation’s journey toward energy self-sufficiency.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zaccheus Adedeji, visited the Dangote Refinery on Sunday to oversee the loading operations of PMS. This momentous event signals a key shift away from heavy reliance on fuel imports, as the refinery begins to process Nigeria’s crude oil into refined petroleum products for the domestic market.
Addressing the media at the event, Mr. Edun highlighted the importance of the achievement, stating, “Today, we have taken an important step, a key step toward energy self-sufficiency in Nigeria.” He emphasized the significance of producing PMS within the country, which many critics previously doubted could be done. “They said it couldn’t be done, that we couldn’t produce PMS in this refinery,” he added, taking the opportunity to commend Aliko Dangote for delivering on the long-awaited project.
This development comes amid Nigeria’s ongoing efforts to stabilize its economy by reducing fuel importation and improving the availability of petroleum products. The Dangote Refinery, Africa’s largest, is seen as a game-changer for the country, with the ability to refine 650,000 barrels of crude oil per day.
The production of both Diesel and PMS in Nigeria not only addresses the country’s fuel needs but also cuts down on the foreign exchange spent on imports, potentially reducing pressure on the Naira.
As the refinery continues its operations, it is expected that more refined products will be sold locally, contributing to national economic growth and energy independence.
This milestone is a clear indicator of Nigeria’s determination to take control of its energy sector and improve domestic production capacity.
