The Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari has assured Nigerians that it has sufficient supply of petroleum products to last for at least 3 months .
Mr Kyari Disclosed this when he appeared before the Senate’s Leadership at the National Assembly. .
He dismissed reports of scarcity and reappearing fuel Queues, the GMD assured that it will optimally provide petroleum to consumers as it occupies over 30 percent of the downstream sector in the oil and gas business
He also disclosed that the Corporation has recorded a significant increase in daily oil production with almost 1.7 Million barrels per day as efforts to combat oil theft and Vandalism is Yielding Positive Results.
He also assures the leadership of the Senate that the NNPCL would restart the Port Harcourt refinery in December, followed by the Warri refinery to start in the first quarter of 2024, which will also be complimented by small scale refineries .
The GMD also disclosed that the NNPCL may post profit in excess of N2 trillion in 2023; while Projecting that Nigeria will be a net exporter of petroleum products by 2024.
On it’s part, the Leadership Senate President, tasked the management of the NNPCL to seek more ways to deepen the consumption of locally produced petroleum products.
