The group chief executive officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, has made projection that Nigeria will start exporting refined petroleum products by 2024.
The NNPC boss made the declaration on Monday at the 2nd edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit in Abuja, where he said that the country will soon be self-sufficient in product production.
Speaking on the theme, “Petroleum Downstream Deregulation and Utilisation for a Sustainable Energy Future in Nigeria”, Kyari also justified the federal government’s rationale for fuel subsidy removal, adding that without the move, the NNPCL would have gone bankrupt.
He said that Nigeria needed to have sustainable energy that is anchored on the resources that are available and a replacement for biomass.
Kyari also advocated a shift in the transportation system towards other energy sources, particularly for mass transportation, which according to him, means Nigeria must do everything possible to bring to reality the current progress that is being made on the Compressed Natural Gas (CNG) buses across the country.
He said below:
“Today, we export 100 per cent of our production, no resource-dependent country does this, and that is why we must deliver on our mandate.“So it will be done, and you will see. 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 the net exporter of petroleum products.“I strongly believe that in 2024, this country will become the net exporter of petroleum products. The meaning of this is that we will have sufficient volumes in-country, when refined locally, we do have advantages, creating wealth, creating taxes, and all forms of value, creating employment, and so on and so forth.”
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