NNPCL targets self-sufficiency: Plans to halt refined petroleum imports by December 2024

The Nigerian National Petroleum Corporation Limited (NNPCL) has set an ambitious goal to cease the importation of refined petroleum products into the country by December 2024. In alignment with this vision, the national oil firm aims to boost its revenue to N4.5 trillion by the end of 2023. Additionally, the rehabilitation of the Port Harcourt Refining Company, managed by NNPCL, is slated for completion by December this year.

NNPCL’s Chief Officer, Mele Kyari, revealed these plans during a meeting with the Speaker of the House of Representatives, Tajudeen Abbas, where company officials discussed their strategic initiatives.

Furthermore, oil marketers affirmed the preparedness of the Port Harcourt refinery, anticipating operations to commence in January 2024. The activation of this refinery is expected to contribute to a significant reduction in the prices of refined petroleum products.

Kyari expressed confidence in the outlined timeline, stating, “I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery, and by the end of 2024, Kaduna refinery will come into operation.”

He emphasized the commitment of NNPCL to these initiatives, including the rehabilitation of existing refineries, support for small-scale refineries, and the upcoming Dangote refinery. With these combined efforts, Kyari projected that Nigeria would transition to being a net exporter of petroleum products by 2024.

Optimistically, Kyari declared, “We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallize.” This bold step aligns with the broader goal of achieving self-sufficiency in the country’s petroleum industry.