Business Oil & Gas Top Story

NNPC depends on Dangote, state-owned refineries to end fuel importation

Reading Time: < 1 minutes

The Federal government said on Wednesday that it was depending on Dangote and state-owned refineries to end massive petrol importation in Nigeria.

The Dangote plant and the government have the capacity to refine 650,000 and 445,000 barrels per day, respectively.

Mele Kyari, the Group Chief Executive Officer, Nigerian National Petroleum Company Limited, NNPCL, speaking in Abuja, said that the joint output of the plants would go a long way to reducing imports, while preserving foreign exchange for the nation.

He stated: “Even if all our four refineries in three locations are operating at 90% of installed capacity, they will only be able to raise 18 million liters of Premium Motor Spirit (PMS). That means even if all of them are working today, you would still have a net deficit of PMS to import into this country.”

He added that because Nigeria’s population, the middle class as well as demand have grown, the volume of petrol required in the country has increased.

Also read  ADC presidential candidate, 7 others expelled for anti-party activities, gross misconduct

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.