By 2023, Nigeria Will No Longer Import Petroleum Products – kyari
“By the middle of 2023, according to Nigerian National Petroleum Company (NNPC) Limited Group CEO Mele Kyari, the nation will no longer import petroleum products,” at a press conference held on Tuesday at the Abuja state house, he said this.
He claimed that the production from the state-owned refineries and the Dangote refinery, which is expected to start operating early next year, will “remove any importation of petroleum products into our country.”……..Continue Reading
Only 18 million liters of Premium Motor Spirit can be produced, even if all four of our refineries, which are spread out over three different locations, are running at 90% of their installed capacity (PMS). You would still have a net deficit of PMS to import into this country even if they were all employed today, he said.
The GCEO noted that as Nigeria’s population, middle class, and demand have grown, so has the amount of gasoline needed in the nation. He claimed that NNPC had a first right of refusal to provide crude oil to the Dangote Refinery and possessed a 20 percent ownership stake in the facility. “However, we anticipated this energy transition challenge. We anticipated a day when you would look for customers to buy your crude but would be unsuccessful.
And as a result, we have secured the right to sell crude oil for a minimum price of 33,000 barrels for the ensuing 20 years, as well as the right to receive 20% of the plant’s output. Kyari stated that the refinery for Dangote.