The Nigerian National Petroleum Corporation (NNPC) has expressed commitment to accomplish the December 2019 target set by the federal government to end the import of petroleum products into the country
Speaking about the 2019 fuel importation deadline, Dr Maikanti Baru, group managing director of NNPC, said that measures had been taken to achieve the target.
He further explained that in terms of refining and production of local petroleum products, the ongoing arrangement with the original builders of the refineries to return them to at least 90 per cent capacity utilisation before the 2019 deadline was still intact.
According to Baru, the decision is in line with Nigerian government’s aim to transform Nigeria from a net exporter of crude oil to a net exporter of petroleum products.
He stated that tendering exercises for companies interested in the rehabilitation programmes of the nation’s four refineries using a contractor-financing model had been completed and successful companies for the different projects would soon be announced.
He also stated that the corporation and the Ministry of Petroleum Resources is collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation.
“So far, about 35 expressions of interest for the establishment of modular refineries had been declared and the Department of Petroleum Resources (DPR) had issued licenses to 13 of them,” Baru noted.
Bank Anthony Okoroafor, chairman of NNPC, said that the organisation further aims to actualise the federal government’s ambitious dream to strengthen the country’s economic development.
