Landmark Decision: NNPC Targets Complete Fuel Import Exit For Nigeria By 2024

The Nigerian National Petroleum Company (NNPC) Limited has declared its intention to cease the importation of refined petroleum products by December 2024…CONTINUE READING

Mele Kyari, the Group Chief Executive Officer of NNPC, conveyed this information during a meeting with Tajudeen Abbas, the Speaker of the House of Representatives, where he led a delegation of the company’s senior management team.

Kyari outlined that all of the country’s refineries are anticipated to be operational by December 2024, paving the way for the company to transition into a net exporter of petroleum products by the same year.

He attributed the historical non-functionality of Nigeria’s refineries to the impact of the petroleum subsidy and highlighted the removal of the subsidy as a catalyst for increased private-sector investment.

“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,” Kyari affirmed.

“This is the commitment we are giving today, and you can hold us accountable for this. In 2024, many initiatives, including the rehabilitation of our refineries and the efforts of small-scale refineries, along with the upcoming Dangote refinery, will make Nigeria a net exporter of petroleum products.

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