Nigerian National Petroleum Company Limited (NNPCL) is preparing to supply 300,000 barrels of crude oil per day to the Dangote Refinery, which is set to open next week.
Mele Kyari, Group Chief Executive Officer of NNPCL, announced this on Thursday.
Kyari highlighted the NNPCL’s readiness to meet its crude supply obligations while speaking at the ongoing 4th Nigerian Oil and Gas Opportunity Fair in Yenagoa, Bayelsa State.
He urged stakeholders to join the national oil company in increasing Nigerian crude oil and gas production.
We want to address the energy challenges so that industrialisation can come to the country. 48 per cent of all revenue that comes to the government comes from the oil and gas sector and we are in a very good position to support the growth of the economy, Kyari was quoted as saying.
The Dangote Refinery, which was founded by Africa’s richest man, Aliko Dangote, and is billed as the world’s largest single-train refinery, is set to be inaugurated by President Muhammadu Buhari on May 22.
The $19 billion refinery, located in Lagos, Nigeria’s Lekki Free Zone, is expected to be Africa’s largest oil refinery.
The facility is expected to meet all of Nigeria’s refined product needs while also producing a surplus for export.
Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21bn per annum of Nigerian crude. It is designed to process Nigerian crude with the ability to also process other crude, the company stated on its website.
The refinery’s impending inauguration has sparked excitement and anticipation among Nigerians, industry players, government officials and other stakeholders.
“With the coming on board of the Dangote Refinery, we believe that Nigeria will say goodbye to PMS scarcity, as well as the poor supply of other petroleum products,” said Chief Ukadike Chinedu, National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria.