NNPC Chief Sets Out Ambitious Plans

Recently appointed Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mele Kolo Kyari has set out ambitious plans to partner with a Dangote refinery under construction so as to transform the country into a regional fuel supplier. 

Despite its vast oil reserves Nigeria is currently a net importer of petroleum products.

The Dangote refinery, which sits on the shores of Lagos, is set to be the largest in Africa, and Kyari has stated his hopes that the NNPC can be the facility’s supplier of first resort.

He has also announced plans for the NNPC to fix existing refineries to ensure their functionality, as well as to provide a supportive fiscal environment for new refineries.

“We must end the trend of fuel importation as an oil producing country. We will deliver on the rehabilitation of the four refineries within the life of this administration and support the private sector to build refineries.

“We will support the Dangote Refinery to come on stream on schedule. We will transform Nigeria into a net exporter of petroleum products,” Kyari told the 2019 Annual Conference of the Society of Petroleum Engineers in Lagos.

Kyari has also stressed his prioritisation of transparency and accountability, pledging that the NNPC would soon publish its audited accounts.