Mallam Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), has projected that Nigeria will commence the export of refined petroleum products by 2024.
Kyari made this announcement during the 2nd edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit held in Abuja.
During the summit, Kyari highlighted Nigeria’s journey toward achieving self-sufficiency in petroleum product production, aligning with the theme, “Petroleum Downstream Deregulation and Utilization for a Sustainable Energy Future in Nigeria.”
He also defended the federal government’s decision to eliminate fuel subsidies, citing its necessity to prevent the NNPCL from facing financial insolvency.
Kyari emphasized the importance of transitioning to sustainable energy sources that make the most of the country’s available resources and serve as alternatives to biomass. He also advocated for a shift in the transportation sector, especially for mass transit, toward alternative energy sources, pointing to the progress being made with Compressed Natural Gas (CNG) buses nationwide.
With confidence, Kyari stated that Nigeria would become a net exporter of petroleum products by 2024, underscoring the economic advantages, including wealth generation, increased tax revenue, job creation, and enhanced value addition.
Furthermore, Comrade Festus Osifo, the National President of PENGASSAN, called for the establishment of a salary benchmark for oil and gas workers, aligning with industry trade instruments. Osifo referenced the model in Angola, where legislation pegs workers’ salaries in dollars and pays them the equivalent in the local currency, as a means to safeguard the interests of workers amidst currency fluctuations.
He stressed the need for innovative solutions to address the challenges faced by oil and gas workers due to currency fluctuations and the recent floating of the Naira in the official market, ensuring fairness and equity for all stakeholders.
