The Nigerian National Petroleum Company Limited (NNPCL), said Nigeria plans to end the importation of the premium motor spirit (PMS), also known as petrol by December 2024 as all of Nigeria’s petroleum refineries will be operational within the said date.
It also projected that the Port Harcourt Refining Company, would be fully restored by December 2023, which will enable the national oil firm’s revenue to increase to N4.5 trillion by the end of 2023.
Mele Kyari, the Group Chief Officer of the NNPCL, made this known when he led a delegation of the company’s senior management team to a meeting with the Speaker of the House of Representatives, Tajudeen Abbas.
Kyari stated that the nation would not need to rely on fuel from outside the country because its refineries would have been fully operational in 2024.
He stated that Nigeria is on track to become a net exporter of refined petroleum products in 2024 as the country is on course to stop petroleum product importation.
He said: “I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, Kaduna refinery will come into operational.
“This is the commitment we are giving today and you can hold us accountable for this. In 2024, many of the initiatives including the rehabilitation of our refineries and also the efforts of small-scale refineries, and the upcoming Dangote refinery, will make Nigeria a net exporter of petroleum products in 2024.
“We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallise.”