Nigeria To Become Net Exporter Of Petroleum Products From Next Year, Kyari Assures

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mallam Mele Kyari, on Monday gave assurances that Nigeria will become a net exporter of petroleum products from next year.

He said this while presenting a keynote address on “A Vision for Deregulation and Gas Utilization for Sustainable Energy in Nigeria” at the ongoing PENGASSAN Energy and Labour Summit in Abuja.

The NNPC Boss explained that with the various initiative being implemented by the government in the oil and gas sector in line with the President’s objective, Nigeria will soon begin to see immediate benefits through sufficient in-country volumes and export revenue.

Kyari also called for the deployment of an inclusive and just energy transition in such a way that resource-dependent countries like Nigeria can be protected.

This, he added, would enable the country to make use of its resources of today to build the infrastructure of tomorrow and to create shared prosperity.

He called for a shift in focus, especially in mass transportation, while stating the urgent need to mainstream the usage of Compressed Natural Gas in the sector to further align with the Federal Government’s choice of gas as the energy transition fuel.

With the transition of the NNPC into a Limited Company, the focus of the current management led by Kyari in line with Nigeria’s quest for energy transitioning is to develop the country’s natural gas for the export market.

With attention shifting from fossil fuel to more cleaner energy sources, the NNPC Limited is leading Nigeria’s drive for more investments that would unlock these energy sources.

Nigeria’s quest for energy transitioning is to develop its natural gas for the export market.

The country has a reserve base of 36.97 billion barrels of oil and 208.83 trillion cubic feet of gas which represents.

In all, Nigeria controls 33 percent of Africa’s total gas reserves of 620 tcf.