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Business News of Wednesday, 1 May 2024

Source: www.legit.ng

After Port Harcourt, NNPC announces new date another Nigerian refinery will begin producing fuel

NNPC Chairman, Mele Kyari NNPC Chairman, Mele Kyari

The Nigerian National Petroleum Company Limited(NNPCL) has announced that the rehabilitation work at the Kaduna refinery will be completed by the end of 2024.

The Managing Director of KRPC, Mustafa Sugungun, disclosed this after he led members of the Senate Adhoc Committee on Petroleum Downstream to the facility.

According to Sugungun explained that the 110,000-barrel-per-day Kaduna Refinery would start producing at 60% capacity by the end of the year, while full production will take place subsequently.

He added that the rehabilitation work, which is presently at 40%, is expected to be completed within the stipulated time frame.

He said: “Our rehabilitation is going on well and steadily according to the plan we have. We are planning to bring this plant to 60 percent nominal capacity by December 31st, 2024.

“Currently, we are heading towards 40 per cent of rehabilitation. We remain committed to bringing back the plant at least 60 percent of our nominal capacity.

“The overall capacity of Kaduna Refinery is 110, 000 barels per day, but we are starting with only 60 percent of that. And in less than one year, we will attain the 110,000 capacity.

“So, this initial plant operation is for 60 percent Nigerian crude and 50, 000 barrels of imported crude. Imported crude is mainly for lubricants and other petrochemical aspect of it."

Nigerian aims to end importation

In the last few years, the Nigerian government has been working hard to ensure that refineries, which have been shut down for years due to lack of maintenance, are revived.

Already, the Port Harcourt refinery is almost ready, and work on the Warri refinery is ongoing.

The Kaduna refinery is also expected to help Nigeria end the importation of petroleum products.

The Dangote refinery has already started producing products, and NNPCL holds high hopes that all will help reduce fuel prices.