IMPORTATION OF PETROLEUM PRODUCTS, A BIG SHAME TO NIGERIA'S IMAGE- KYARI DECRIES

IMPORTATION OF PETROLEUM PRODUCTS, A BIG SHAME TO NIGERIA'S IMAGE- KYARI DECRIES

The Group Managing Director of the Nigerian National Petroleum Corporation, (NNPC) Mallam Mele Kyari, said it’s a shame that Nigeria still remains a net importer of petroleum products.

Kyari expressed this at the opening of the 2019 annual conference and exhibition, themed “Artificial Intelligence, Big Data and Mobile Technology: Changing the Future of the Energy Industry”, which was organised by the Society of Petroleum Engineers in Lagos.

He opined that the situation is a shame to the country’s image. However, he promised to fix the country’s refining challenges.

According to Kyari, NNPC is faced by the challenges in its environment as the refineries are not operating optimally.

He said that the corporation is ready to fix the refineries and make it functional with at least 90 per cent capacity, adding that those who have initiatives on refinery will be supported, providing fiscal regime.

Kyari vowed to end the trend of fuel importation in the country by rehabilitating the existing refineries and supporting the private sector to build refineries, reiterating that Nigeria will be transformed into a net exporter of petroleum products.’’

He said the country’s long target of raising crude oil production and reserves to three million barrels per day (bpd) and 40 billion barrels, respectively was feasible, adding that he would help the corporation in achieving the target by 2023.

“This time we are determined, we will work together with stakeholders so that we will deliver on the mandate, he opined.

Speaking on the Petroleum Industry Bill, (PIB), Kyari said “As you all know that since 1999 till date, effort to get the PIB passed into law has not worked and this is a big challenge and disappointment for all of us all’’.