August 18, (THEWILL) – The bold pronouncements by the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL) that Nigeria will be a net exporter of petroleum products in 2024 seems to be vanishing into oblivion as the basis for the pronouncements no longer exists.
Also failed to materialise was the assurance that the Port Harcourt refinery, earlier scheduled to commence production in December 2023, later shifted to August 2024, has entered into another stage of forlorn hope.
Kyari had declared in July 2024 that Nigeria will become a net exporter of petroleum products by December 2024 “based on emerging indicators in the energy and gas sector”.
Speaking at the National Assembly during a session with economic stakeholders and the senate committee on finance, chaired by lawmaker Sani Musa, Kyari said, “Yes, this country, as we have said, will be a net exporter of petroleum products by the end of this year.
“We’re very optimistic that by December, this country will be a net exporter. That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies that we know are in line to do this.
“Specific to NNPC refineries, we have spoken to a number of your committees, that it is impossible to have the Kaduna refinery come to operation before December, it will get to December, both Warri and Kaduna; but that of Port Harcourt will commence production early August this year.”
Recently, the national oil company declined media enquiries on the August date for the resumption of production at the Port Harcourt refinery, stating that the date is now “on course”, thereby postponing it the sixth time.
Kyari had made a similar pronouncement in October 2023 that the nation would be so energy sufficient that it would commence export of petroleum products in 2024.
Speaking during the energy and labour summit of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja on October, 9, 2023, Kyari said no resource-dependent country entirely exports its crude oil, as is the case with Nigeria.
“Today, we export 100 per cent of our production, no resource-dependent country does this and that is why we must deliver on our mandate. I don’t want to speak about it; when it is done, you will see it,” Kyari said.
“So, I don’t want to tell you we are going to revamp our refineries. That is too much of PowerPoint talks. So, it will be done and you will see it. I don’t want to speak about it, we are tired of speaking about it.
“But what we must achieve is that this country must be a net exporter of petroleum products and this is within sight.
“I strongly believe now, without giving you a date so that people don’t get angry again, that in 2024, this country will become a net exporter of petroleum products
“The meaning of this is that you will have sufficient volumes in-country and that you will have a delta and that is where value is created.”
THEWILL reports that ten months after the Senate embarked on a probe of the endless maintenance of Nigeria’s moribund refineries in October 2023 without a report, the upper and lower legislative chambers jointly commenced a similar exercise in August 2024.
Following fresh controversies trailing the nation’s oil and gas industry, especially in the aspects of sabotage, corruption and oil theft, the House of Representatives named a seven-member committee to probe alleged economic sabotage in the oil and gas sector.
The panel headed by House Leader, Julius Ihonvbere, is to join the Senate in executing its task.
On its part, the Senate has raised an Ad Hoc Committee to Investigate the Alleged Economic Sabotage in the Nigerian Petroleum Industry. The upper legislative chamber had expressed concerns over the $1.5 billion approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery with little or no result.
Opeyemi Bamidele, chairperson, Senate Ad Hoc Committee said it was unfair and wrong to treat public companies shabbily while private businesses were flourishing and thriving
He recalled that the Federal Executive Council had approved the plan by the Ministry of Petroleum Resources to rehabilitate and turn around the Port Harcourt Refinery with $1.5 billion
Nigerians have been grappling with petrol scarcity across the states with the commodity selling about N1,000 and above per litre in many states while black market operators have a field day.
Dangote Refinery also postponed to a later date the commencement of petrol production in August 2024 as earlier announced.
