Nigeria’s mega Dangote Refinery said it has made its first export of premium motor spirit (PMS), commonly known as petrol, to a neighboring African country, Cameroon.
This was disclosed in statement signed by the company on Wednesday, adding that the exportation was to a Cameroon-based energy company.
This marks the first-ever export of petroleum products from Africa’s largest oil refinery and signals a new era of economic collaboration between Nigeria and Cameroon.
An executive at the refinery had earlier confirmed some months ago that the refinery had signed its first export orders for its gasoline and will begin dispatching the product “as soon as the ships arrive”.
However, since beginning petrol production in September and significantly improving the quality of its fuel in October, rising prices have meant the refinery has struggled to shift its supply.
Located in Lagos, the refinery has a processing capacity of 650,000 barrels per day, making it the largest single-train refinery in the world.
Speaking on the milestone, Alhaji Aliko Dangote, CEO of the Dangote Group, said,
“This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa. With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people.
“This development not only showcases the refinery’s capabilities but also reinforces its commitment to driving energy transformation across Africa,” Dangote added.
Neptune Oil’s Reaction to the Deal
Neptune Oil said the petrol supply transaction was executed without intermediaries.
Both companies were exploring new initiatives to establish a reliable supply chain that will help stabilize fuel prices and opportunities across the region. Said the firm.
Director and Owner of Neptune Oil, Antoine Ndzengue, highlighted the importance of the collaboration, stating,
“This partnership with Dangote Refinery marks a turning point for Cameroon. By becoming the first importer of petroleum products from this world-class refinery, we are bolstering our country’s energy security and supporting local economic development.”
