The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has announced that Nigeria will become a net exporter of refined petroleum products by December this year.
The NNPCL has revealed that the Port Harcourt Refinery will start operating fully in August, with the Warri and Kaduna refineries expected to commence full operations by December. Additionally, the Dangote Refinery is set to begin producing petrol in commercial quantities by August.
Kyari made these statements when he appeared before the National Assembly Joint Committee on Finance alongside other members of the Federal Government’s finance team.
“NNPCL and the oil and gas industry are very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this,” Kyari said.
“We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared a war on production activities and this is yielding the required results.
“The combination of these two has now seen us restoring production in our country, and we believe that, as the minister has said, we will soon hit the target of two million barrels of oil production per day.
“I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery.
“This country will be a net exporter of petroleum products by the end of this year. We’re very optimistic that by December, this country will be a net exporter.
“That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies are in line to do this.
“So, I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.
“We have spoken to a number of your committees that it is impossible to have the Kaduna refinery come into operation before December, it will get to December. Both Warri and Kaduna but that of Port Harcourt, will commence production early August this year.”
Oreoluwa is an accountant and a brand writer with a flair for journalism.
