The Nigerian
National Petroleum Corporation has unveiled plans to exit importation of
petroleum products by 20I9. Group Managing Director, Dr. Maikanti Kacalla Baru,
made this known while fielding questions from journalists on the sidelines of
the ongoing Offshore Technology Conference (OTC) in Houston, United States,
yesterday.
Baru who was
represented by the Chief Operating Officer, Gas & Power, Saidu Mohammed,
told reporters that as at today, all the nation’s three refineries were
producing petroleum products.
“We load out
at least five to six million litres of PMS daily and about that same quantity
of AGO daily from the three refineries. That is part of what is making the PMS
market in Nigeria stable today. We believe that the set target of exiting PMS importation
in 2019 is achievable,” he stated.
He
maintained that because the rehabilitation of the refineries has been hampered
by lack of regular Turn Around Maintenance (TAM) over the years, it would take
more years to get the refineries fully back to their nameplate capacities.
He observed
that following NNPC’s foray into the energy sector through electricity
generation and other renewables, Nigeria’s perennial power sector woes may soon
be over.
“Essentially,
NNPC has been there. Many people don’t know that the NNPC has been part of the
power sector. We supply steadily about 1,000mw from Afam and Okpai, two of
Nigeria’s most reliable power plants serving as one of the cheapest sources of
power today in the country,” he noted.
According to
him, the NNPC has engaged its Joint Venture Partners, Chevron and Total, to
build similar power plants at Obite and Agura.He said the Corporation was also
looking at bringing in new investors. “We have advertised and are currently
evaluating potential partners in this regard,” he said.
He further
observed that the Corporation was fulfilling part of its commercial obligations
to Nigeria’s energy sector through power supply from Afam and Okpai as well as
excess power from its refineries, adding that its role in the power sector will
be enhanced with the completion of the power plants that it has started and
most especially the three mega power plants in Abuja-Kaduna-Kano (with combined
capacity of 3000mw).
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