Nigerian National Petroleum Corporation Limited, NNPCL, has declared that the importation of refined petroleum products into the country will end by December 2024.
According to NNPCL’s projection, the national oil firm would grow its revenue to N4.5tn at the end of 2023, adding that the rehabilitation of the Port Harcourt Refining Company, under NNPCL’s management, would be completed by December this year.
The 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 on Thursday.
Also, oil marketers, on Thursday, confirmed the readiness of the Port Harcourt refinery, as they stated that its operations, which could begin in January 2024, would lead to a considerable drop in the prices of refined petroleum products.
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,” he said.
