FG Makes Big Promise to Nigerians, Reveals When Importation of Petroleum Products Will Stop
- Nigerians have been assured that the importation of petroleum products into the country will soon come to an end
- The assurance was handed to citizens by the group chief executive director of NNPC, Mele Kyari on Tuesday, August 30
- Kyari said that the combined refining of crude oil by the Dangote plant and other refineries will help the country achieve this feat
The group chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, on Tuesday, August 30, assured that Nigeria will cease to import petroleum products by mid-2023.
The Cable reports that Kyari while speaking at a press briefing at the State House in Abuja assured that the combination of the effort and output from the established Dangote refinery - which is billed to resume in 2023 - and other state-owned refineries will help achieve this aim.
Source: UGC
The GCEO also said that with only four refineries functioning at 90 per cent and stationed in three different locations across the country, Nigeria will not be able to meet up with the demands of refined petroleum products by citizens.
His words:
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"That means even if all of them are working today, you would still have a net deficit of PMS to import into this country."
NNPC's equity percentage in Dangote refinery
The Punch reports that speaking further, Kyari added that 20 per cent of the equity in Dangote Refinery is owned by the NNPC.
He also said that the limited company has the first right of refusal to supply crude oil to the plant.
He added:
“The combination of that and our ability to bring back our refinery will eliminate any importation of petroleum products into this country next year. You would not see any importation into this country next year.
“This is very practical. As a matter of fact, when we are done with our own refineries and the Dangote refinery, there remain other small initiatives that we are doing, small modular condensate refineries that we are building.
"If that happens and we are very optimistic it will happen, you would see that this country will now be a net exporter."
Fuel scarcity: We can’t continue to sell Petrol at N165 per litre, marketers insist
Fuel queues had resurfaced in most parts of Lagos state following the decision of some members of the IPMAN to close down their operations.
The Lagos zonal chairman of IPMAN, Akin Akinrinade explained in an interview that its members did not embark on strike but can’t continue to operate in a hostile setting.
Petroleum marketers had however insisted on selling the premium motor spirit at N165 per litre.
'Satan campaigning against sin', Reno Omokri blasts Peter Obi's consumption to production economic plan
A campaign of moving Nigerian from a consumption to a production economy by Peter Obi had unsettled a former aide to ex-president Goodluck Jonathan.
Reno Omokri said the everyday sermon shared by the 2023 presidential candidate of the Labour Party is like a campaign against sin by the devil.
According to Omokri, Peter Obi is one of the highest contributors to the challenges faced by Nigeria's naira through his numerous importation businesses.
Source: Legit.ng
