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The federal government says the commencement of lifting of Premium Motor Spirit (PMS), also known as petrol from the 650,000 bpd Dangote Refinery in Lagos marked the return of industrialisation in Nigeria.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun led the government delegation to the refinery. He described the event as epoch-making and a major win for local refining.
“This is the resumption of Nigeria’s march toward industrialisation. It represents a return to what we once had—local refining and local supply of petroleum products in the Nigerian market. It has been decades since we last achieved this, but we have it today,” he said.
The minister was accompanied by Dr. Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS) and Chairman of the Technical Sub-Committee on naira-based crude sales to local refineries. Mr Edun stated that the initiative will ensure energy self-sufficiency and security in Nigeria.
He explained that the availability of the product to Nigerians will end perennial scarcity and long queues. He noted that this aligned with President Bola Tinubu’s vision of adding value to raw materials before they leave the country.
Source: News Central
