Kyari also said the Dangote plant and the state-owned refineries have the capacity to refine 650,000 and 445,000 barrels per day, respectively
By Kehinde Okeowo
Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has stated that Nigeria will soon become a petroleum exporting country once the Dangote refinery and other refineries start functioning optimally.
According to him, the federal government is looking up to the Dangote refinery and state-owned refineries to end massive petrol importation in Nigeria.
The Dangote plant and that of the government have the capacity to refine 650,000 and 445,000 barrels per day, respectively.
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Speaking in Abuja today, Kyari asserted that even if all the state-owned refineries in 3 locations are operating at 90% of installed capacity, there will still be a net deficit in the PMS needed in the country.
He said, “Even if all our four refineries in three locations are operating at 90% of installed capacity, they will only be able to raise 18 million litres of Premium Motor Spirit (PMS). That means even if all of them are working today, you would still have a net deficit of PMS to import into this country.”
He, however, added that the combined output of the government plants and that of Dangote refinery, would go a long way in reducing imports, while conserving foreign exchange for the nation.
Kyari said the Dangote Refinery would begin producing by the middle of next year, adding that it can produce up to 50 million litres of PMS.
He went on to say this will invariably move Nigeria from a nation importing petroleum products to one that is exporting.
“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.” Kyari further said.
He added that because of Nigeria’s population, the middle class as well as demand have grown, the volume of petrol required in the country has increased.