The Nigerian National Petroleum Corporation (NNPC) has expressed commitment to actualise the December 2019 target set by the federal government to end importation of petroleum products into the country.
Speaking at the Offshore Technology Conference 2018 Nigeria Oil Industry Award Dinner in Houston, Texas, United States, Group Managing Director of the corporation, Dr. Maikanti Baru, said measures had been taken to achieve the target.
In a statement yesterday by the Group General Manager, Group Public Affairs Division of the Corporation, Mr. Ndu Ughamadu, GMD explained that in terms of refining and production of local petroleum products, the ongoing arrangement with the original builders of the refineries to return them to at least 90 percent capacity utilization before the 2019 deadline was still intact.
Baru noted that the long cherished dream of transforming Nigeria from a net exporter of crude oil to a net exporter of petroleum products would in the months ahead transform into a reality.
He stated that tendering exercises for companies interested in the rehabilitation programmes of the nation’s four refineries using a contractor-financing model had been completed and successful companies for the different projects would soon be announced.
“This model is expected to be a self-sustaining financial model with near zero reliance on the federal government funds. For smooth running and implementation, we are also changing the operating and commercial framework of the refineries to make them work efficiently and be commercially viable,’’ he said.
The NNPC GMD also stated that the corporation and the Ministry of Petroleum Resources were also collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation saying that it had received about 35 expressions of interest request for the establishment of modular refineries with the Department of Petroleum Resources (DPR) had issued licenses to 13 of them.
