The group executive officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, says expressed optimism that Nigeria will be a net exporter of petroleum by December 2024.
Kyari stated this on Monday during a meeting with the Senate Committee on Finance led by Senator Sani Musa.
The emerging indicators, according to Kyari, are the Port Harcourt Refinery which will start production early next month, which will be followed by the one in Warri months after, and the Kaduna refinery latest by December this year.
The NNPC boss added that in a few months, the oil production level for the country will hit 2 million barrels per day as all enablement towards that has already been put in place.
“Mr. Chairman and members of the Joint Committee. Let me just confirm that NNPCL and the oil and gas industry are very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this,” Kyari said.
“We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared war on production activities, and this is yielding the required results.
“The combination of these two has now seen us restoring production in our country, and we believe that, as the Honorable Minister has said, we will soon hit the target of 2 million barrels of oil production per day.
“I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery.
“Yes, this country, as we have said, will be a net exporter of petroleum products by the end of this year.
“We’re very optimistic that by December, this country will be a net exporter. That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies that we know are in line to do this.
“So I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.
“Specific to NNPC refinery. We have spoken to a number of your committees, and it is impossible to have the Kaduna refinery come into operation before December, it will get to December. Both Warri and Kaduna but that of Portharcourt, will commence production early August this year,” he added.
