Nigeria has commenced the overhauling of its four refineries, beginning with the Port
Harcourt Refinery to achieve its 2023 target of ensuring that local refineries operate
optimally.
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC),
Mr. Mele Kyari, revealed at the Annual Conference of the Association of Energy
Correspondents of Nigeria (NAEC) in Lagos on Thursday.
Kyari said that the NNPC had given itself a three-year deadline to review the operations of its
refineries, support condensate plants and open up the midstream sector.
He said that Nigeria had remained a net-importer of petroleum products.
He said this was due to the current state of its refineries and the long absence of private
investment in the refining sector.
“Thus, we require more investment to revamp and expand our domestic refineries and
associated infrastructure to support the growth of the downstream sector and guarantee
energy security to the nation.
“In this respect, the NNPC under my purview will leave no stone unturned to ensure our
445,000-barrel per day refineries in Port Harcourt, Warri and Kaduna work to an appreciable
level or capacity.
“We are progressing with the establishment of condensate refineries to fast-track domestic
supply of petroleum products,’’ he said.
The Corporation would support the actualisation of the 650Kbbl/day Dangote Refinery, as
well as other private initiatives along this line.
“Our plan is for Nigeria to become a net exporter of petroleum products by 2023,” he added.
Kyari, however, emphasised the need for an enabling environment to attract the right
Investment, which he said, was being subdued by the nation’s fiscal regime.
According to him, the Petroleum Industry Bill (PIB) must run its full cycle under this 9th
National Assembly, implying that there is absolute need to fast track its enactment
processes.
“Related to this is the fact that we need to build on the security of the nation’s Industry
assets across the country.
“As stakeholders in the commonwealth, we must ensure that we keep away miscreants from
our pipelines to pave the way for efficient operations in the sector,” he added.
MM/GIK/APA