LAGOS, Nigeria

Nigeria’s first private oil refinery on Tuesday rolled out its refined product to the local market in Africa.

Aliko Dangote, president of Dangote Refinery, said the product will help improve access to gasoline in Nigeria and sub-Saharan Africa.

“This product will bring relief to Nigerians and improve the oil market in Nigeria and sub-Saharan Africa,” Dangote said at an event marking the rollout of petroleum products in Lagos, Nigeria’s commercial capital.

With a production capacity of 650,000 barrels of crude oil per day, the refinery will address the recurring gasoline shortages in the West African nation, said Dangote, one of Africa's richest men.

“It will relieve the people and eliminate queues at petrol stations,” he added.

Nigeria, one of the largest oil producers, imports refined gasoline from the US and other countries following the collapse of its three refineries.

Crude exports account for the majority of Nigeria’s revenue.