Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit, PMS, from Dangote Refinery, Africa’s largest oil refinery, to Cameroon.
The 650,000 barrels per day refinery disclosed this in a statement on Wednesday,11 December, 2024
According to Dangote Refinery, the feat is the result of a strategic collaboration between the two companies, underscoring their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands.
Reacting, Aliko Dangote, President and CEO of the Dangote Group, noted that the export of PMS to Cameroon is a tangible demonstration of the group’s 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,” he said.
On his part, Antoine Ndzengue, Director and Owner of Neptune Oil, emphasised that the 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. This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently,” he stated.
This comes months after Dangote Petrol hit the Nigerian market on September 15 2024
Recall that Dangote Refinery, the Independent Petroleum Marketers Association of Nigeria and other oil marketers agreed on the direct sale of the company’s petroleum product.
The development had led to a minor PMS price reduction.
Recall that Nigerians buy petrol between N1,060 and N1,150 per litre, depending on the location.
Source: Daily Post
