“Nigeria To Become Exporter of Refined Fuel” – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu has said that Nigeria will begin to export refined petrol and other petrochemical products within the next four years.

Kachikwu said this is possible if plans to ramp up the country’s domestic refining capacity work out well.

The Minister, who doubles as the GMD of NNPC stated this recently in Abuja when he briefed reporters on his plans for the country’s petroleum sector.

He noted that if the plans to co-locate new refinery investments within the country’s existing refinery complexes in Kaduna, Warri and Port Harcourt become successful, and the private refinery owned by the Dangote Group comes on stream, Nigeria will produce more petrol than she needs and then export the excess.

He explained that it would take at least three years to get the co-located refineries to begin production, adding that Dangote’s is expected to come on stream between 2019 and 2020.

“The policy on the whole is that we must target a time frame of 12 and 18 months to get out of importation.