Nigeria Will Become Net Exporter Of Petroleum Products In 2024 – NNPC

The Nigerian National Petroleum Company (NNPC) Limited, on Monday, projects that Nigeria will become a net exporter of petroleum products by next year.

The Group Managing Director of NNPC, Mele Kyari, made the projection while speaking at the PENGASSAN Energy and Labour Summit 2023.

This according to him means Nigerians will have sufficient volumes in the country and those that can leave the country.

The NNPC boss however said refining crude oil in the country would not necessarily bring down the local price of petrol, saying the product was controlled by the international price.

Kyari said Nigeria should not be exporting 100 per cent of its crude as it does at present as a resource-dependent country.

He said, “Today, we export 100 per cent of our productions, no resource-dependent country does this and that is why we must deliver on our mandate. I don’t want to speak about it; when it is done, you will see it.

“So, I don’t want to tell you we are going to revamp our refineries. That is too much of PowerPoint talks. So, it will be done and you will see it. 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 a net exporter of petroleum products and this is within sight.”

“I strongly believe now, without giving you a date so that people don’t get angry again, but in 2024, this country will become a net exporter of petroleum products.”

• Kazeem Badmus