For the Umpteenth Time, Kyari Projects Nigeria to Become Net Exporter of Petroleum Products 

The Group Managing Director of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, for the umpteenth time projects that Nigeria will soon become a net exporter of petroleum products. He however shifted the set target from 2023 to 2024, when he said the country’s refineries would have begun refining of crude.

Kyari, who spoke at the PENGASSAN Energy and Labour Summit 2023 in Abuja on Monday, said Nigeria, which currently is a net importer of petrol, will soon have sufficient volumes for consumption as well as for export come 2024.

He however, stated that refining crude oil in the country would not necessarily bring down the local price of petrol, which he noted, was controlled by the international price.

The GMD said as a resource-dependent country, Nigeria should not be exporting 100 percent of its crude as it does currently but will have sufficient volumes for refining.

Kyari said: “Today, we export 100 per cent of our productions, no resource-dependent country does this and that is why we must deliver on our mandate. I don’t want to speak about it; when it is done, you will see it.

“So, I don’t want to tell you we are going to revamp our refineries. That is too much of PowerPoint talks. So, it will be done and you will see it. I don’t want to speak about it, we are tired of speaking about it.

“But what we must achieve is that this country must be a net exporter of petroleum products and this is within sight.”

“I strongly believe now, without giving you a date so that people don’t get angry again, but in 2024, this country will become a net exporter of petroleum products.”

Nigeria’s four refineries have been moribund for decades as funds allocated for their upgrade and revitalisation were diverted by corrupt officials.

During a recent inspection tour of the rehabilitation work progress at the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt, the Minister of State for Petroleum Resources, Heineken Lokpobiri, said the Port Harcourt refinery would be back on stream by December this year.

Besides, the coming on stream of the Dangote Refinery, which is expected soon, will boost Nigeria’s refining capacity.

Aliko Dangote, the President of Dangote Industries Limited, had during the inauguration of the 650,000 bpd refinery in Lagos State in May stated that production would start between July and August this year but that has been delayed for an undisclosed date.

The NNPCL boss further added: “Government is putting money into this and NNPC is investing with partners and we believe in 2024 the revolution will become very manifest and people will become have access to cleaner and cheaper fuel in 2024.

“It’s already happening, number of buses has converted, a number of state governments have bought buses that are running on CNG. We are carrying out significant projects that will bring CNG into the market with our partners and we believe that this will work for our country.”