In a reassuring statement, the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, announced that Nigerians can expect uninterrupted fuel supply for the next three months.
This affirmation, made during a courtesy visit to the Senate leadership, emphasized the positive impact of the recently enacted Petroleum Industry Act (PIA) on the country’s energy sector.
Attributing the current stability in fuel supply to the PIA, Mele Kyari highlighted the legislation’s role in ensuring a consistent and cost-effective energy supply for the citizens.
Read also: Court of Appeal Nullifies Ogun PDP Lawmaker’s Election, Declares APC Candidate as Winner
He went on to outline the NNPCL’s comprehensive supply plans for the upcoming quarter, underscoring the company’s commitment to efficiently meeting the petroleum product needs of consumers.
Kyari shared a notable achievement in the form of the recovery of N1.7 million barrels of crude oil. This success was credited to enhanced monitoring and supervision of oil pipelines facilitated by independent pipeline security firms and the military.
Such measures have proven instrumental in addressing challenges related to oil theft and pipeline vandalization within the country.
The NNPCL GMD expressed gratitude for the collaborative efforts of government security agencies and private security companies, highlighting a shift in strategy that yielded positive results over the last five to six months.
Mele Kyari Reveals Plans Regarding Some Refineries
Looking ahead, Mele Kyari assured the Senate of plans to restart the Port Harcourt refinery in December, with the Warri refinery set to follow suit in the first quarter of 2024. These initiatives will be complemented by the establishment of small-scale refineries, indicating a multifaceted approach to bolstering the nation’s refining capabilities.
Read also:Â Breaking: Senate Threatens Action Against NNPC Boss and Executives Over Alleged N12 Trillion Fraud
Financially, Mele Kyari projected a potential profit exceeding N2 trillion for NNPCL in 2023, showcasing optimism about Nigeria’s trajectory to becoming a net exporter of petroleum products by the next year.
Senate President Godswill Akpabio commended NNPCL’s efforts in maintaining fuel stability and encouraged the company to explore avenues for increasing the consumption of locally produced petroleum products, fostering economic growth and sustainability.
