In a major milestone for Nigeria’s energy sector, the Dangote Refinery, a $20 billion venture spearheaded by billionaire Aliko Dangote, has officially commenced petrol production. This development is anticipated to alleviate the persistent petrol shortages that have troubled the country, offering much-needed relief to millions of Nigerians.

At a press conference on Wednesday, Dangote expressed his appreciation to President Bola Tinubu’s administration for fostering an environment that enabled the successful completion of the refinery project. He underscored the refinery’s potential to bolster the nation’s economy and enhance energy security.

“This refinery is poised to drive growth, development, and prosperity by providing essential energy to our people,” Dangote stated. “I extend my gratitude to President Bola Tinubu’s government and the Nigerian people for creating the conditions that made this achievement possible.”

Dangote also commended the Tinubu administration’s “Naira for crude, Naira for product” initiative, which he believes will help stabilize the Naira by cutting the demand for dollars by 40%.

The start of petrol production at the Dangote Refinery marks a significant advancement in tackling Nigeria’s enduring fuel supply issues and reducing foreign exchange demand, signaling a promising economic future for the country.