Dangote Refinery has exported its first consignment of Premium Motor Spirit (PMS), otherwise known as petrol, to Cameroon, in what the company described as a landmark move for regional energy integration.
The petroleum product will be received by Neptune Oil in the Central African country, a joint statement by both organisations said on Wednesday.
The milestone, resulting from a strategic collaboration between the two companies, the statement said, underscores the parties’ commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s growing energy demands.
Located in Lagos, Nigeria, Dangote Refinery is the largest single-train refinery in the world, with a processing capacity of 650,000 barrels per day. It is a flagship project of the Dangote Group, which says it’s dedicated to transforming Africa’s energy landscape.
On the other hand, Neptune Oil is a leading energy company in Cameroon, committed to providing reliable and sustainable energy solutions. Through collaborations with international partners, Neptune Oil plays a pivotal role in driving economic growth in the region, the statement added.
READ ALSO: Nigeria’s Adeyemi-Bero Appointed OPEC Board Of Governors’ Chair
President and Chief Executive of the Dangote Group, Alhaji Aliko Dangote, in his remarks on the deal, said it was part of plans to lay the foundation for Africa’s self-sufficiency in the energy sector.
“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,” he said.
Director and Owner of Neptune Oil, Antoine Ndzengue, on his part, described the deal as a turning point for Cameroon.
“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”
The collaboration between Dangote Refinery and Neptune Oil, the company said. does not end with this first export. Both companies added that they are exploring new initiatives to establish a reliable supply chain that will help stabilise fuel prices and create new economic opportunities across the region.
“For Nigeria, this export showcases Dangote Refinery’s ability to meet domestic needs and position itself as a key player in the regional energy market. It represents a significant step forward in accessing high-quality and locally sourced petroleum products for Cameroon,” the statement added.