…….to boost in-country refining capacity, turn Nigeria into net exporter of petroleum products
The Nigerian National Petroleum Corporation (NNPC) has confirmed that it is establishing two, new 200,000bpd condensate refineries to boost in-country refining capacity for Nigeria.
Upon completion, the condensate refineries, coupled with the 445,000bpd capacity of the existing refineries in the country, which are being refurbished, and the proposed, 650,000bpd Dangote Refinery, are expected to transform Nigeria into a net exporter of petroleum products, the apex oil corporation said
Speaking at the sidelines of a tour of the Dangote Refinery in Lagos, the group managing director of the NNPC, Mallam Mele Kyari, said that the complementary efforts by the NNPC and the Dangote Group would guarantee energy security for Nigeria in the years ahead
“Our objective is to make Nigeria a net exporter of petroleum products and you can only achieve that by complementing each other, both the public and the private sector. We are going to do more and we actually need more of these private sector refineries for Nigeria to become a net exporter of gasoline and other associated products”, Mallam Kyari said.
Minister of state, petroleum resources, Chief Timipreye Sylva, who led the tour of the private refinery, pledged that the federal government would support the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals Plant with crude oil feedstock and other necessary inputs to the success of the project.
According to him, the refinery will attract more Foreign Direct Investment (FDI) into Nigeria upon completion, pointing out that as a confirmation of Nigeria’s entrepreneurial success story, the private refinery must be supported in every way. The minister said the support was necessary to ensure the successful completion of the project, in order to realize the federal government’s aspiration of reversing the ugly trend of fuel importation.
“The Dangote Refinery is a very impressive project done by a Nigerian for Nigeria”, the Minister enthused.
Chibisi Ohakah
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