[TR News] Nigeria to halt petrol import by 20I9

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The Nigerian National Petroleum Corporation has unveiled plans to exit importation of petroleum products by 20I9. Group Managing Director, Dr. Maikanti Kacalla Baru, made this known while fielding questions from journalists on the sidelines of the ongoing Offshore Technology Conference (OTC) in Houston, United States, yesterday.

Baru who was represented by the Chief Operating Officer, Gas & Power, Saidu Mohammed, told reporters that as at today, all the nation’s three refineries were producing petroleum products.

“We load out at least five to six million litres of PMS daily and about that same quantity of AGO daily from the three refineries. That is part of what is making the PMS market in Nigeria stable today. We believe that the set target of exiting PMS importation in 2019 is achievable,” he stated.

He maintained that because the rehabilitation of the refineries has been hampered by lack of regular Turn Around Maintenance (TAM) over the years, it would take more years to get the refineries fully back to their nameplate capacities.

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He observed that following NNPC’s foray into the energy sector through electricity generation and other renewables, Nigeria’s perennial power sector woes may soon be over.

“Essentially, NNPC has been there. Many people don’t know that the NNPC has been part of the power sector. We supply steadily about 1,000mw from Afam and Okpai, two of Nigeria’s most reliable power plants serving as one of the cheapest sources of power today in the country,” he noted.

According to him, the NNPC has engaged its Joint Venture Partners, Chevron and Total, to build similar power plants at Obite and Agura.He said the Corporation was also looking at bringing in new investors. “We have advertised and are currently evaluating potential partners in this regard,” he said.

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He further observed that the Corporation was fulfilling part of its commercial obligations to Nigeria’s energy sector through power supply from Afam and Okpai as well as excess power from its refineries, adding that its role in the power sector will be enhanced with the completion of the power plants that it has started and most especially the three mega power plants in Abuja-Kaduna-Kano (with combined capacity of 3000mw.

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Rancy Jay

Rancy Jay

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