Amidst a fuel crisis in the nation, the Managing Director of the Nigerian National Petroleum Corporation (NNPC) Limited, Mele Kyari, has announced that Nigeria is poised to start exporting petroleum products to other countries by 2024. Kyari made this announcement during the opening of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit 2023 held in Abuja. The summit’s theme was “Petroleum Downstream Deregulation and Gas Utilization.”
Kyari explained that the current market dynamics are leading to necessary adjustments. He stressed the importance of market forces taking control while the government ensures the availability of relief measures for the populace. He expressed strong belief that in 2024, Nigeria will transform into a net exporter of petroleum products. This transformation would signify that the country has achieved a sufficient volume of petroleum products domestically, allowing for exports and value creation.
However, Kyari underscored the need to prioritize the adoption of gas as a transportation fuel for this transformation to become a reality. He emphasized that such a shift requires the collective support and effort of all stakeholders. Kyari’s vision for Nigeria’s energy future hinges on the nation’s successful transition to using gas as a prominent transportation fuel, paving the way for the country to become a net exporter of petroleum products in the near future.
