By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Nigeria to stop importation of fuel by 2023 – Mele Kyari
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Nigeria to stop importation of fuel by 2023 – Mele Kyari

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: August 30, 2022
Share
4 Min Read
Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari
Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari
SHARE

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, says Nigeria will end importing petroleum products by the year, 2023.

Kyari made this revelation during a press briefing at the state house in Abuja, on Tuesday.

According to the NNPC Ltd CEO, the NNPC had the right to 20 per cent of production from the Dangote refinery.

Kyari said the Dangote refinery which would begin next year would augment the output from state-owned refineries to meet Nigerians’ demand for petroleum products.

- Advertisement -

He said: “The NNPC owns 20 per cent equity in the Dangote refinery and not only that, and we’re very proud of this. We’re not only owning 20% equity, we have the first right of refusal to supply crude oil to that plant. But we saw this energy transition challenge coming we knew at that time will come when you will look for people who will buy your crude oil you will not find and that means that we have locked down the ability to sell crude oil for 330,000 barrels minimum by right for the next 20 years.

“Also, by right also we have access to 20% of the production from that plant. That means that whatever it does, you know we have a right to take 20 per cent of that production as part of our equity and this refinery will come on stream latest by the middle of next year.

“Projection is the first quarter, but we think that it can come up latest by the middle of next year. If it does, this refinery alone, because it has a 650,000 per barrel capacity and different technology, means that it can crack the crude in a manner that you can have more gasoline than a typical refinery.

“That means that the refinery has the ability to produce up to 50 million litres of PMS. So, the combination of that and our ability to bring back our refinery will completely eliminate any potential petroleum product into this country next year. You will not see any importation into this country next year. This is very practical. This is possible,” Kyari said.

- Advertisement -

“As a matter of fact, when we’re done with our refineries and the Dangote Refinery, very many small initiatives that we are doing; small, modular, condenser refineries that we’re building, if that happens, and we are very optimistic it will happen, you will see that this country will now be a net exporter, we hope of export of petroleum products, not just to the west African sub-region, but to the rest of the world.

“This will happen, and the flow of supply will change. By the middle of next year, it will change. So, you will have no need for the importation of petroleum products into this country by the middle of next year,” Kyari added.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:mele KyariNNPC
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Imo and Ekiti states with lowest number of out-of-school children — UNICEF
Next Article Portabale and Davido Portable tenders apology to Davido

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 2 weeks ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

OPEC Reports Slight Increase in Nigeria’s Oil Output Amid Budget Concerns
Energy & Oil
FG Launches N50 Billion Sovereign Green Bond to Finance Climate-Friendly Projects
News
Bode George
Bode George Affirms PDP’s Resilience in Lagos Amid Defections, Dismisses Claims of Party Collapse
Politics
Military and Police Launch Cross-Border Manhunt After Benue Massacre
News Top stories
Nigeria GDP Growth, Nigeria renewable energy
Tinubu Shifts Kaduna Visit to Benue in Renewed Peace Initiative
News Top stories
- Advertisement -
Ad imageAd image

You May Also Like

News

Delta Community Erupts in Protest Over 5 Years of Power Outage

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 17, 2025
NewsTop stories

JUST IN: FG Launches Official Digital Portal for Nigeria Youth Conference to Empower Young Nigerians

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 16, 2025
Politics

Aliyu Audu Quits Tinubu’s Administration, Vows to Oppose 2027 Re-election

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 16, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?