Nigeria’s downstream sector has received a boost with additional 20,000 metric tonnes of premium Automotive Gas Oil (AGO), also known as diesel, following the entrance of a new indigenous player in the market, BonnyLight Energy and Offshore Limited.
The product lifted from Amsterdam, The Netherlands, is poised to wet the company’s tank farms strategically located to serve key markets situated across the region through its base in Kirikiri, Ijegun, Creek Road in Lagos; Warri and Oghara in Delta State as well as Port Harcourt, Rivers State.
The product supply comes at a crucial time occasioned by high consumption of diesel from corporate, transport institutions and even households to ensure product security across all sectors.
According to the Vice Chairman, Toyin Banjo; “BonnyLight is proud to be an active member of the industry’s stakeholder community committed to the continual delivery of premium fuel that drives our fast-emerging economy amid the recession and the attendant COVID-19 pandemic era.
“Furthermore, we are poised to support the Federal Government’s efforts to revamp the energy sector and successfully steer the economy towards a fully market-led and deregulated regime of the downstream petroleum sector.”
Additionally, the inflow of BonnyLight’s 20,000MT premium diesel supply will significantly aid the country’s manufacturing industry to ramp up production, post-COVID-19 lull.
Based on estimations by the Petroleum Products Pricing Regulatory Agency (PPPRA) of national daily consumption currently at 56 million and 14 million litres for Premium Motor Spirit – PMS (also known as petrol), and AGO, BonnyLight Energy intends to help maintain product supply stability for Nigeria’s economic recovery efforts.
