There'll Be No Fuel Queues Up Till 2024 - Kyari Assures Senate
The Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, , has assured the Senate that fuel queues will be a thing of the past in the next three months.
Mr Kyari who stated this during a courtesy visit to the leadership of the Senate in Abuja, said that the passage of the Petroleum Industry Act (PIA) has ensured that “energy supply is stable, creating cheaper energy for Nigerians .
He said that the Corporation has “robust supply plants from now until next year.
"You may see a number of scattered reports that of filling stations that people will call it qeues. They are not.”
Mele Kyari also explained that the corporation occupies over 30 percent of the downstream sector in the oil and gas business, and will “optimally provide” petroleum to consumers.
The NNPCL GMD said that the country has recovered up to N1.7 million barrels of crude oil following an increase in monitoring and supervision of the facilities by independent pipeline security companies, and the military.
He said “in the last 5-6 months government security agencies and private security companies have done things differently, and it has yielded results.”
Mele Kyari pointed out that the oil regulator aims at meeting its targeted contribution to the budget,and assured the leadership of the Senate that the NNPCL would restart the Port Harcourt refinery in December, followed by the Warri refinery to start in the first quarter of 2024.
According to him these refineries would be complimented by small scale refineries, and mentioned that the Corporation has recordedp N274 million naira profit in 2021, a growth from 2018.
The Senate President, Godswill Akpabio, urged the management of the NNPCL to seek ways of deepening the consumption of locally produced petroleum products.
He also called for the establishment of modular refineries, as well as the renovation of existing ones “to create a multiplier effect which will include creation of jobs for teeming youths, and more security for the country.”
He also explained efforts by the Upper Chamber of the National Assembly to end oil theft and pipeline vandalisation which, according to him, was costing the nation revenue losses.
The Senate President further revealed that the Red Chamber would partner with the NNPCL in creating legislations that would smoothen ease of business for stakeholders in the oil and gas sector.
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