Mele Kyari, the Managing Director of Nigerian National Petroleum Corporation (NNPC) Limited, has indicated that the country will begin exporting petroleum products to other countries in 2024.
Kyari made the remarks on Monday at the start of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit 2023 in Abuja, with the topic “Petroleum Downstream Deregulation and Gas Utilization.”
However, he noted that in order for this to happen, the country must focus on making gas a transportation fuel.
Kyari stated that the only long-term source of energy for Nigeria is the development of the country’s gas resources.
The NNPC CEO stated that when there is enough petroleum in the country, there will be plenty to export.
He said: “The market is adjusting itself. Market adjustment is what we are seeing today, and it is very good for our country so that the market forces take control, while the government plays its own role in making sure that palliatives are made available. I strongly believe that in 2024, this country will become a net exporter of petroleum products. The meaning of this is that we will have sufficient volume in the country, and then we will have a delta that can leave our country, and that is where value is created.
“This needs everybody’s support. This support means we have to focus on gas as transportation fuel. This is very practical. Already, significant activities are going on. The government is putting money into it. NNPC is investing in partnerships and we believe that in 2024 that revolution will be very manifest and people will have access to cleaner and cheaper fuel.
“It is already happening, a number of buses are already converted, and a number of state governments have bought buses which are running on Compressed natural gas (CNG). We are carrying out significant projects that will bring CNG into the market with our partners and we believe this will work for our country.
“The only sustainable source of energy that we can have today is to build our gas resources, and that is why we are focused on guaranteeing energy security for the country. Therefore, we are focused on building the necessary infrastructure that will deliver gas to the domestic market and we are almost done.
“So once there is what is called the OB3 river crossing. There is a 48-inch pipeline that once it crosses the river Niger, we have a clear line of sight. This will be the gas revolution for our country.”
