NNPCL sets import end date for refined petroleum products

NNPCL sets import end date for refined petroleum products

The Nigerian National Petroleum Corporation (NNPCL) has declared that it will end imports of refined petroleum products into the country by December 2024.

According to NNPCL’s projections, the national oil company’s revenue will increase to N4.5 trillion by the end of 2023, adding that the restructuring of Port Harcourt Refining Company under NNPCL’s management will be completed by December this year.

NNPCL Chief Executive Officer Mele Kyari disclosed this while leading company executives to a meeting with Speaker of the House of Representatives Tajudeen Abbas on Thursday.

Oil market players also said on Thursday that the Port Harcourt refinery could start operations in January 2024, leading to a significant fall in the price of refined petroleum products, adding that the refinery’s readiness is likely to start. I confirmed that it was in order.

Kyari said, “We will confirm that we will commission the Port Harcourt refinery by the end of December this year. We will commission the Warri refinery early in the first quarter of 2024 and the Kaduna refinery by the end of 2024.” .

“This is the promise we give today and you give us this responsibility. With a number of initiatives including refinery rehabilitation, small refinery initiatives and the upcoming construction of the Dangote refinery. , Nigeria will become a net exporter of petroleum products in 2024.

“By the end of 2024, there will be no talk of fuel imports. I’m very optimistic that this will materialize,” he said.

Source: dailypost.ng

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