Nigeria has been announced to become a net exporter of petroleum by December 2024.
This will be achieved with the ongoing improvements and strategic initiatives in Nigeria oil industry.
This was disclosed by the Group Executive Officer of the National Petroleum Corporation Limited (NNPCL), Male Kyari, on Monday during an interactive session with the senate Committee on Financial state of Nigeria Economu.
The interactive session attendees include Heineken Lokpobiri, the Minister of State for Petroleum Resources; Atiku Bagudu, the Minister of Budget and Economic Planning; Sani Abdullahi, the Deputy Governor of Economic Policy at the Central Bank of Nigeria (CBN), representing CBN Governor Olayemi Cardoso; and Wale Edun, the Minister of Finance.
Kyari said that the Port Harcourt refinery would commence production early next month, followed by the Warri refinery in the subsequent months, and the Kaduna refinery by December this year which would enable Nigeri achieve the net exporter status.
He added that Nigeria’s oil production is expected to reach 2 million barrels per day in the coming months, with all necessary preparations already in place.
“Let me confirm that NNPCL and the oil and gas industry are crucial in turning around our current economic situation,” Kyari stated.
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