Nigeria Will Be A Net Exporter Of Petroleum Products By 2024, According To NNPCL

Nigeria will be a net exporter of petroleum products by 2024, according to the Nigerian National Petroleum Company Limited (NNPCL).

Mele Kyari, the Group Managing Director of NNPCL, made this known during a courtesy visit to Senate President Godswill Akpabio and 14 other ranking Senators.

The NNPCL CEO also disclosed that a comprehensive petroleum product supply plan is in place through next year, ensuring that there will be no fuel shortages, primarily since they account for more than 30% of the downstream industry and thus no cues are expected.

Any queues at the NNPC gasoline station are due to the cheaper cost of NNPC fuel, according to Kyari.

He decried the protracted difficulty of crude oil theft, which crippled the company in July 2022, owing mostly to the operations of vandals, and described Nigeria’s import of petroleum products as terrible for an oil-producing country.

Kyari also stated that the Port Harcourt refinery will begin operations in December, while the business continues to launch various additional refinery activities.

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