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Nigeria Will Become ‘Net Exporter’ of Petroleum Products by 2024 – NNPCL


By Ndubuisi Micheal Obineme

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, says with the ongoing rehabilitation of refineries across the country, Nigeria will become a net exporter of petroleum products by 2024.

Kyari stated this during the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit held on 9th October, 2023 in Abuja.

In his words, The NNPCL GCEO gave assurances on Nigeria’s readiness to become a net exporter of petroleum products in 2024, noting that this is within sight and is in line with the President’s objective of delivering immediate benefits of sufficient in-country volumes while creating export revenue.

He said, “Today, Nigeria export 100 per cent of its 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.”

According to him, this means Nigerians will have sufficient volumes in the country and those that can leave the country.

The NNPC boss however made it clear that refining crude oil in the country would not necessarily bring down the local price of petrol, which he said was controlled by the international price.

Kyari, also emphasized the importance of adopting an inclusive and equitable energy transition strategy to align with the Federal Government’s strategic direction, which prioritizes gas as a transition fuel.

He advocated for a shift in energy usuage, particularly within mass transportation towards the utilization of compressed natural gas (CNG).

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