Nigeria To Become Net Importer Of Petroleum By 2024 – Mele Kyari

Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has stated that Nigeria is ready to become a net exporter of petroleum products by 2024.

VerseNews reports that Kyari made this announcement during the October 9 Energy and Labour Summit held in Abuja, organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

He emphasized that Nigeria’s goal of becoming a net exporter of petroleum products is within reach and aligns with the President’s objective to increase in-country volumes and create export revenue.

Kyari said that the NNPCL has once again become the sole importer of petrol since private companies cannot access foreign currency due to shortage issues.

He said: “We are the only company importing petrol into the country. None of them can do it today. For them, access to foreign exchange is difficult. We create foreign exchange (FX), therefore we have access to FX, while their access to FX is limited.”