Afrigather Mele Kyari, the Group Chief Government Officer of the Nigerian Nationwide Petroleum Firm Restricted (NNPC), has set a definitive timeline for the revival of the Port Harcourt refinery, marking a big step in Nigeria’s power sector.
In a latest assembly with the Speaker of the Home of Representatives, Tajudeen Abbas, Kyari confirmed that the Port Harcourt refinery is slated to begin operations by December 2023.
This announcement is a part of a broader technique by the NNPC to overtake state-run refineries throughout the nation. Following the Port Harcourt refinery’s revival, plans are in place for the Warri refinery to start operations in early 2024, with the Kaduna refinery anticipated to observe by the tip of the identical yr. This complete rehabilitation effort is aimed toward ending Nigeria’s dependence on petrol imports by December 2024, positioning the nation as a web exporter of petroleum merchandise.
Kyari’s dedication displays an optimistic outlook for Nigeria’s power sector, with the inclusion of initiatives comparable to small-scale refineries and the upcoming Dangote refinery. These efforts are anticipated to considerably bolster Nigeria’s petroleum product output and cut back the necessity for gas importation.
Concurrently, Speaker Tajudeen Abbas known as for the privatization of refineries, arguing that some companies are extra effectively run by the non-public sector. He emphasised the necessity for refineries to have multi-dimensional makes use of and to stay operational no matter crude oil availability.
This stance stems from a rising realization that the inefficiencies of state-run refineries might turn into extra obvious within the face of competitors from non-public entities just like the Dangote refinery.
NNPC set to offer Dangote refinery with crude oil
Additional highlighting the urgency of this concern, the Nationwide Meeting, in August 2023, introduced plans to probe the alleged N11.3 trillion expenditure by the Federal Authorities on Nigeria’s refineries’ turn-around upkeep between 2010 and 2020. This investigation underscores considerations over the deplorable state of the nation’s refineries regardless of substantial investments over the previous decade.
Along with these developments, the NNPC plans to offer the Dangote oil refinery, with a capability of 650,000 barrels per day, with as much as six shipments of crude oil in December for testing. This transfer, a part of a one-year settlement, aligns with Kyari’s imaginative and prescient of a revitalized and self-sufficient Nigerian petroleum sector.
