Hon. Esosa Iyawe, the House of Representatives member representing Oredo Federal Constituency of Edo State, has praised the Dangote Refinery and its founder, Aliko Dangote, for the commencement of Premium Motor Spirit (PMS) production, which began on 3rd September 2024. The start of local petrol production marks a monumental achievement for Nigeria, which has long been plagued by dependence on fuel imports, despite being one of the world’s largest oil producers.
The Dangote Refinery, with a capacity of 650,000 barrels per day, is Africa’s largest refinery and is set to serve not only Nigeria but also the West African market. For the first time in 28 years, Nigeria is locally producing petrol—a development that promises to reduce the country’s reliance on imports, conserve foreign exchange reserves, and boost economic growth.
Iyawe, who has a background in engineering before venturing into politics, had previously condemned the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for attempting to hinder the refinery’s progress. He called for the removal of the NMDPRA CEO, Farouk Ahmed, for his “unpatriotic” remarks regarding the project earlier this year.
In a congratulatory statement, Iyawe highlighted the significance of this development, calling it a “watershed moment” for Nigeria’s economic landscape. He noted the wide-reaching benefits the Dangote Refinery would bring, including boosting foreign exchange, creating jobs, and improving the overall value chain in Nigeria’s oil sector.
“Congratulations to Aliko Dangote on the monumental achievement in PMS production,” Iyawe wrote. “In a remarkable leap for Nigeria’s industrial sector, Dangote’s commitment to national development has led to the successful production of PMS at his refinery. This monumental achievement is a pivotal moment for Nigeria’s economic landscape.”
He continued, “The Dangote Refinery now operational marks a significant milestone in the country’s quest for self-sufficiency in petroleum products. By producing PMS domestically, Dangote has addressed a long-standing challenge faced by Nigeria—a nation historically reliant on imported fuel. This stride not only promises to enhance fuel availability but also aims to stabilise prices and mitigate the economic impacts of fuel importation.”
Iyawe further explained how the refinery’s production capabilities would support the country’s broader economic goals. “The refinery’s capacity to produce high-quality PMS is expected to reduce the country’s dependence on foreign imports, thereby conserving foreign exchange reserves and fostering economic stability. This development aligns perfectly with Nigeria’s broader goals of economic diversification and industrial growth.”
Beyond economic benefits, Iyawe also highlighted the potential for job creation and stimulation of local industries, noting that the refinery would bolster small and medium-sized enterprises and contribute to national infrastructure development. He added, “The refinery’s operation will bolster the local economy, support small and medium-sized enterprises, and contribute to the overall development of the nation’s infrastructure.”
In his closing remarks, Iyawe reiterated that the achievement is not just a victory for Dangote but for the entire nation, reinforcing Nigeria’s potential on the global economic stage. “This achievement is not just a victory for Dangote Industries but a triumph for Nigeria, reinforcing the nation’s potential to achieve greater heights in the global economic arena.”
