The Group Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has promised that the country will be a net exporter of refined oil before the end of 2024.
Kyari said his assurance was based on emerging indicators in the country’s energy and gas sector.
He made this known on Monday at the National Assembly when stakeholders of the nation’s economy including the Ministers of Finance, Wale Edun; Budget and National Planning, Senator Atiku Bagudu; Minister of State Petroleum, Senator Heineken Lokpobiri; and the Governor of the Central Bank, Olayemi Cardoso, met with the Senate Committee on Finance led by Senator Sani Musa.
According to Kyari, the Port Harcourt Refinery will begin production early next month, followed by the Warri refinery several months later, and the Kaduna refinery by December of this year.
He stated that in a few months, the country’s oil production level would reach 2 million barrels per day, as the necessary infrastructure had been put in place.
He said, “Mr. Chairman and members of the Joint Committee. Let me just confirm that 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..
“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 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 Honorable Minister has said, we will soon hit the target of 2 million barrels of oil production per day.”
He added, “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.
“Yes, this country, as we have said, 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 that we know are in line to do this.”
Kyari stressed further, “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.
“Specific to NNPC refinery. We have spoken to a number of your committees, and 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 Portharcourt, will commence production early August this year.”
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