NNPCL now sourcing products from local refineries, not importing — Kyari

The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) has disclosed that the company has stopped importing petroleum products and is now sourcing exclusively from local refineries.

Speaking at the 42nd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos on Monday, Kyari explained that NNPC now relies entirely on domestic refineries, including the Dangote Petroleum Refinery, to meet fuel needs.

“Today, NNPC does not import any product; we are taking only from domestic refineries,” Kyari confirmed.

Addressing rumors that NNPC is obstructing domestic refining efforts, Kyari denied the allegations, saying, “The point is very far from it and I’m going to speak to it straight. We are very proud part-owners of Dangote refinery, no doubt about it.”

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Kyari emphasized the strategic advantage of supplying crude oil directly to Nigerian refineries, noting thze growing global competition for oil markets.

He added that the decision was made to benefit both NNPC and the local industry, not in response to external pressure.

“We saw an opportunity that there is a clear market for at least 300,000 barrels of our production; we know that as time moves on, people will start struggling to find markets for their production.

“It will happen, It’s already happening. Oil is found, as you know, in many unexpected locations across the world and people have choices.

“Therefore, we saw an opportunity to log supply to the domestic refinery, not just Dangote but any other refinery that operates in the country, so it was a very informed business decision.

“Therefore, from day one, we knew that it is to our benefit to supply crude oil to the domestic refinery, so we don’t need to be persuaded; we don’t need anyone to talk to us, there is no need for any pressure from the streets for us to do this. We are already doing this,” he stated.

NIGERIAN TRIBUNE