There will be no shortage of fuel supply till 2024– Mele kyari

Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), gave the Senate assurances that there won't be gasoline lines in any part of the nation for the next three months.

During a courtesy visit to the Senate leadership on Wednesday, Kyari stated that the enactment of the Petroleum Industry Act (PIA) has guaranteed Nigerians a "stable and cheaper energy supply."

He said: “The company has robust supply plants from now until next year; we have always planned for three months. And I guarantee you, Your Excellency, that we will not see any shortage in our country.

In addition, Kyari disclosed that the NNPCL will "optimally provide" petroleum to customers, and that the oil giant controls more than 30% of the downstream segment of the oil and gas industry.

He said that the nation has recovered up to N1.7 million barrels of crude oil as a result of increased monitoring and supervision of the facilities by independent pipeline security companies and the military, while simultaneously connecting the sector's problems to oil theft and pipeline vandalism.

“In the last five to six months, government’s security agencies and private security companies have done things differently, and it has yielded results,” he said.

Kyari also guaranteed that the NNPCL would reopen the refineries in Warri in the first quarter of 2024 and Port Harcourt in December. Small-scale refineries would supplement these, he continued.

He added that by 2023, Nigeria will be a net exporter of petroleum products and that NNPCL might report profits exceeding N2 trillion.

Senate President Godswill Akpabio assigned the NNPCL management the responsibility of exploring methods to increase the amount of petroleum products produced locally.

In an effort "to create a multiplier effect, which will include the creation of jobs for our teeming youths and more security for the country," he also called for the construction of modular refineries in addition to the renovation of already existing ones.

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