THE Nigerian government is banking on the commencement of operation by the Dangote refinery to end fuel importation by 2023.
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCLtd.), Mele Kyari, told journalists today at the State House in Abuja that the importation would end by mid-2023.
NNPCLtd has invested 20 per cent equity in Dangote’s refinery, making it a shareholder there, although its own three refineries in Port Harcourt, Warri and Kaduna are in comatose.
Kyari was enthusiastic that the Dangote refinery, which he said could produce up to 50 million litres of petrol per day because of modern technology, would augment the output from the state-owned refineries to meet Nigerians’ demand for petroleum products.
He said, “The NNPC owns 20 per cent equity in the Dangote refinery, and we’re very proud of this. We’re not only owning 20 per cent equity, we have the first right of refusal to supply crude oil to that plant. But we saw this energy transition challenge coming.
“Also, by right, we have access to 20 per cent of the production from that plant. That means that whatever it does, we have a right to take 20 per cent of that production as part of our equity. This refinery will come on stream latest by the middle of next year.”
He projected the importation of petroleum products to end in the first quarter of next year.
“You will not see any importation of petroleum products next year. This is very practical. This is possible,” Kyari noted.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.