Nigeria to end fuel importation, start exporting Dec 2024 – NNPC

Nigeria to end fuel importation, start exporting Dec 2024 – NNPC

The Nigerian National Petroleum Company Limited says Nigeria will stop fuel importation in December 2024.

The Group Chief Officer of the NNPCL, Mele Kyari, disclosed this when he led officials of the company to a meeting with the Speaker of the House of Representatives, Tajudeen Abbas.

Kyari said all the nation’s refineries including the recently inaugurated massive Dangote refinery would have been fully working by December next year.

Already, the NNPC boss said the rehabilitation of the Port Harcourt Refining Company under his management would be completed by December this year.

Kyari said Nigeria was on track to stop the importation of refined petroleum products in 2024 and would emerge as a net exporter of the commodities in the same year.

He also spoke on the commencement of operations of the Port Harcourt, Warri, and Kaduna refineries

He said all refineries would become fully operational, adding that the country would become a net exporter of petroleum products by the end of 2024.

Kyari stated, “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.

“This is the commitment we are giving today and you can hold us accountable for this.

“In 2024, many of the initiatives including the rehabilitation of our refineries and also the efforts of small-scale refineries, and the upcoming Dangote refinery, will make Nigeria a net exporter of petroleum products in 2024.

“We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallise.”

but if crude oil increases in price, it will make the price of these refined products rise.

“This is because the crude oil refiners are going to buy the product based on its international rate. But the only way it will not affect us is if we are practising subsidy.’’