Dangote Refinery and Neptune Oil have announced the historic first export of Premium Motor Spirit (PMS) from Dangote Refinery, Africa’s largest oil refinery, to Cameroon.
In a statement released on Wednesday, the 650,000 barrels per day refinery highlighted this milestone as a product of strategic collaboration between the two companies.
The partnership reflects their shared commitment to bolstering economic ties between Nigeria and Cameroon while addressing the region’s growing energy needs.
Commenting on the achievement, Aliko Dangote, President and CEO of the Dangote Group, emphasized that exporting PMS to Cameroon represents a significant step toward realizing the group’s vision of 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.
Antoine Ndzengue, Director and Owner of Neptune Oil, highlighted that the partnership with Dangote Refinery represents a significant milestone for Cameroon, positioning the country as the first importer of petroleum products from this world-renowned refinery.
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“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 follows the entry of Dangote Petrol into the Nigerian market on September 15, 2024. Reports indicate that Dangote Refinery, the Independent Petroleum Marketers Association of Nigeria (IPMAN), and other oil marketers reached an agreement for the direct sale of the company’s petroleum products.
This development resulted in a slight reduction in the price of Premium Motor Spirit (PMS).
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