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He also added that the oil company has take 20 percent equity in the Dangote Refinery on stream by mid-2021, would boost the
kick-started the Ajaokuta-Kaduna-Kano and acquire stakes in other private modular country’s petrol export drive.
(AKK) gas pipeline project, while the Obiafu- and condensate refineries in the country. The Dangote refinery, which is under
Obrikom-Oben gas pipeline (OB3) project acquisition would cost the corporation $3.8 construction in Lagos, has a capacity to
was billed for completion soon. billion, which it plans to borrow from lenders. process 650,000 barrels per day of crude oil.
Kyari explained that NNPC’s vision was to “Our priority is to meet our local fuel The facility is expected to be Africa’s
emplace the critical backbone infrastructure, demand because that is the right way to go biggest oil refinery and the world’s biggest
create liquidity and provide the necessary thereby making Nigeria to become the hub of single-train plant upon completion.
linkage to markets. petroleum products supply to other African Yakubu explained that with the huge
Speaking on the topic: “Vision countries in the years ahead,” Kyari informed. crude refining capacity of the refinery and
and Priorities for Nigeria’s Energy According to him, NNPC, as a National the contributions from modular refineries
Transformation,” he said for a nation with a Oil Company (NOC) has made strategic and those from NNPC, which were being
teeming youth population and a developing decisions that would enable Nigeria to be revamped, the country would be refining
economy, Nigeria needed the right policies energy sufficient through its partnerships and about 1.3 million barrels of crude oil daily.
to unlock its huge economic potential, and several business portfolios that would add He said, “Today the Dangote refinery
that NNPC was working towards bridging the value to the nation. is nearing completion, very huge plant of
energy gap to multiply wealth for its varied He said the recent passage of the Petroleum 650,000 barrels capacity. That is very huge for
stakeholders. Industry Bill (PIB) by the National Assembly us as NNPC.
“We see a nation that must integrate by was an example of how collaboration across “And in terms of our crude production, if
developing midstream and downstream political lines can deliver reforms. He assured you add the 445,000 barrels of NNPC to the
infrastructure as the intersection and bridge that the NNPC would sustain engagement 650,000 barrels and also cumulate the ongoing
to value. We see a nation in need of the right with partners to co-create solutions for unique efforts in terms of modular refineries, I think
policy framework to attract new investment challenges and provide the platform for we will be talking about 1.3 million barrels
while encouraging existing players,” Kyari effective policy engagement. of crude oil per day. That’s a lot. “So, the only
said. BUSINESS AM way is for us to key into that and also, it is for
He said NNPC and its partners were the energy security of this country.”
harnessing and exploiting the nation’s huge Yakubu observed that the Dangote refinery
gas potentials, one of which is the $7 billion REFINING would also need the NNPC as it would
Nigeria Liquefied Natural Gas (NLNG) Train need crude oil from Nigeria, adding that the
7 project, which ground-breaking was done Nigeria to refine 1.3mn bpd corporation and Dangote must collaborate.
recently. The NLNG Train 7 is believed to be a Asked whether the inauguration of the
flagship project expected to increase Nigeria’s of crude next year Dangote refinery was close, the COO replied,
LNG production capacity by 35 percent, and “I think the plant will come on stream by the
seal Nigeria’s position as one of the top LNG When the Dangote refinery comes on stream middle of next year.”
nations in the world. and starts production by the middle of The Group Managing Director, NNPC,
According to Kyari, Nigeria was in the next year, Nigeria will be refining about 1.3 Mele Kyari, recently announced that the
process of also transforming into an LNG- million barrels of crude oil daily, the Nigerian corporation would acquire 20 per cent stake
consuming country, while at the same time National Petroleum Corporation announced in the Dangote refinery, adding that the
deepening domestic utilization of Liquefied on Wednesday. national oil firm would recover its cost in the
Petroleum Gas (LPG). The Chairman, Senate Committee on refinery in five years. On the PIB, the senator
He said a programme for the rehabilitation Petroleum Resources, Upstream, Senator said before Tuesday next week, the two arms
and upgrading of the existing refineries Bassey Albert, also announced that of the National Assembly would ensure that
was on course, while work had already the National Assembly would send the the bill was harmonised for transmission to
started on the Port Harcourt Refinery harmonised version of the recently passed the President for assent.
Company (PHRC). The Warri Refining and Petroleum Industry Bill to the President for “Between now and Tuesday the two
Petrochemical Company Limited (WRPC) assent by next week. arms of the National Assembly would have
and Kaduna Refining and Petrochemical Speaking at the ongoing 20th Nigeria Oil harmonised the bill and it will be presented to
Company Limited (KRPC) would follow later. and Gas conference, the Chief Operating the presidency before the end of next week,”
Meanwhile, the NNPC group managing Officer, Refineries, NNPC, Mustapha Yakubu, Albert said.
director reiterated plans by the corporation to said the Dangote refinery, projected to come PUNCH

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