Nigeria will begin petroleum products export in 2024 – Kyari

Nigeria will begin petroleum products export in 2024 – Kyari

Some cheering news from the oil industry as Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, says Nigeria will start exporting refined petroleum products by 2024.
He made the declaration on Monday at the 2nd edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit in Abuja, where he said that the country will soon be self-sufficient in product production.
He spoke on the theme, “Petroleum Downstream Deregulation and Utilisation for a Sustainable Energy Future in Nigeria”.
Kyari also justified the Federal Government’s rationale for fuel subsidy removal, adding that without the move, the NNPCL would have gone bankrupt.
He said that Nigeria needed to have sustainable energy that is anchored on the resources that are available and a replacement for biomass.
He also advocated a shift in the transportation system towards other energy sources, particularly for mass transportation.
According to him, this means Nigeria must do everything possible to bring to reality the current progress being made on the Compressed Natural Gas (CNG) buses across the country.
“Today, we export 100 per cent of our production, no resource-dependent country does this, and that is why we must deliver on our mandate.

“So it will be done, and you will see. I don’t want to speak about it. We are tired of speaking about it. But what we must achieve is that this country must be the net exporter of petroleum products.
“I strongly believe that in 2024, this country will become the net exporter of petroleum products. The meaning of this is that we will have sufficient volumes in-country, when refined locally, we do have advantages, creating wealth, creating taxes, and all forms of value, creating employment, and so on and so forth,” he said.
PENGASSAN President, Festus Osifo, called for a salary benchmark for oil and gas workers in the country.
He said the salary adjustment was necessary to align with the instrument of trade of the oil and gas commodity.