The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday said Nigeria will be a net exporter of petroleum products in 2024.
The Group Managing Director of NNPCL, Mele Kyari, disclosed this during a courtesy visit to Senate President Godswill Akpabio and 14 other senior Senators.
Kyari also shared that there is a comprehensive supply plan for petroleum products in place until the next year, ensuring that fuel shortages are unlikely due to NNPCL’s significant presence in the downstream business, accounting for over 30 percent.
He clarified that any queues at NNPC fuel stations are a result of the reduced cost of NNPC fuel.
He expressed concern about the prolonged issue of crude oil theft that significantly hampered the company in July 2022, primarily due to the actions of vandals. He characterized it as unfortunate for Nigeria, an oil-producing country, to be importing petroleum products.
Kyari also revealed that the Port Harcourt refinery is scheduled to begin operations in December, aligning with the company’s efforts to support the launch of various new refinery projects.