The Dangote refinery and Neptune Oil have jointly announced the first-ever export of Premium Motor Spirit (PMS), otherwise known as petrol, from the refinery in Lagos State to Cameroon.
Dangote refinery made this known in a statement on Wednesday, December 11, 2024.
The refinery stated that the milestone, resulting from a strategic collaboration between the two companies, underscored their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands.
Speaking on the development, the President and CEO of the Dangote Group, Aliko Dangote, 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.”
Import licence: Dangote refinery to amend suit against NNPCL, others
The Director and Owner of Neptune Oil, Antoine Ndzengue, stated: “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.
“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”
The statement added that the collaboration between Dangote refinery and Neptune Oil does not end with this first export.
“Both companies are exploring new initiatives to establish a reliable supply chain that will help stabilise fuel prices and create new economic opportunities across the region,” it noted.
- Stock market continues bullish trend as investors gain N183bn - December 12, 2024
- Wike’s aide debunks land grabbing allegations against FCTA - December 12, 2024
- Champions League: Arsenal thrash Monaco as Juventus whip Man City - December 12, 2024
