NNPCL chief Kyari assures plenty of fuel supply until 2024

The Senate received a visit from Mele Kyari, the head of the NNPCL, on Wednesday. He promised them that the country would not face any fuel scarcity for the next three months.

He said that the new PIA law has made energy more affordable and reliable for Nigerians.

He said, “We have enough supply plants for this year and the next; we always plan ahead for three months. And I assure you, Your Excellency, that our country will not experience any shortage.

He also said that the NNPCL controls more than a third of the downstream sector in the oil and gas industry and that the company will deliver petroleum to consumers in the best way possible.

He blamed oil theft and pipeline damage for the problems in the sector, but he said that the country has reclaimed up to 1.7 million barrels of oil thanks to better protection and surveillance of the facilities by private and government security agencies.

He said: “In the past half a year, the security agencies and the security companies have changed their approach, and it has paid off.”

He also said that the NNPCL would reopen the Port Harcourt refinery in December and then the Warri refinery in the first three months of 2024. He said that these would be supported by smaller refineries.

He also said that the NNPCL could make more than N2 trillion in profit in 2023 and that by 2024, Nigeria would be selling more petroleum products than it buys.

The Senate President, Godswill Akpabio, urged the NNPCL to find ways to increase the use of local petroleum products.