NNPC Chief Kyari Defends Investment In Dangote Refinery, Denies Undermining Local Refineries

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has clarified that the NNPCL is not sabotaging local refineries. Instead, he reiterated that the company is committed to tackling Nigeria’s energy...CONTINUE READING…

challenges by ensuring energy security, sustainable growth, and affordability.

According to NNPC’s spokesperson, Olufemi Soneye, Kyari made these statements during the opening of the 42nd Annual International Conference of the Nigeria Association of Petroleum Explorationists (NAPE) in Lagos, themed “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth, and Affordability.”

In his address, Kyari announced NNPCL’s plans to establish 12 Compressed Natural Gas (CNG) mother stations and mini LNG plants to increase domestic gas supply, currently at 1.6 billion standard cubic feet per day.

“NNPC Ltd. is focused on enhancing our supply chain, developing new refining capacities, and expanding our retail networks,” Kyari said, emphasizing the company’s efforts to collaborate with private refineries to ensure affordable and sustainable fuel supplies in Nigeria. This strategy includes initiatives to stabilize the local currency through naira-for-crude transactions.

Kyari highlighted infrastructure developments, such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, to bolster Nigeria’s energy accessibility. The company also plans to deploy additional CNG and LNG infrastructure in the coming months to enhance domestic energy access.

The NNPC CEO commended President Bola Tinubu’s efforts to alleviate forex pressures by reducing fuel imports and boosting local refining capabilities. He emphasized that resolving Nigeria’s energy challenges requires collaboration, innovation, and commitment.

Kyari also addressed accusations that the NNPCL is undermining local refineries, affirming, “NNPC Ltd. is a part-owner of the Dangote Refinery. This strategic investment aims to reinforce Nigeria’s domestic fuel supply.”