Close Menu
The Prime Times
  • Home
  • NEWS
  • POLITICS
  • BUSINESS
  • EDUCATION
  • OPINION
  • TRAVELS
  • INTERVIEW
  • ENTERTAINMENT

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ajia Appreciates Emir of Fune, Others, Vows Loyalty and Service

July 1, 2025

Court Admits Medical Report of Ex-Minister Saleh Mamman in EFCC Trial Over Mambilla Project Fraud

June 30, 2025

Fune Emirate to Honour Alhaji Ibrahim Ajia with Title of Dan Amana for Exemplary Service, Loyalty and Philanthropy

June 26, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
The Prime Times
Subscribe
  • Home
  • NEWS
  • POLITICS
  • BUSINESS
  • EDUCATION
  • OPINION
  • TRAVELS
  • INTERVIEW
  • ENTERTAINMENT
The Prime Times
Home»Business»FG hopeful Dangote Refinery, others will meet local fuel demand
Business

FG hopeful Dangote Refinery, others will meet local fuel demand

admin@theprimetimesBy admin@theprimetimesNovember 2, 2021No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
Share
Facebook Twitter LinkedIn Pinterest Email

The 650,000bpd Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) and other modular refineries are expected to be the major drivers of Nigeria’s demand for petroleum products, which is projected to grow massively in the nearest future.

Speaking at the just concluded 15th Oil Trading and Logistics (OTL) Africa Downstream Week in Lagos, the Group Managing Director of NNPC, Mallam Mele Kyari, said NNPC Refineries’ 445,000 barrels-per-day (BPD), Dangote Refinery’s 650,000 BPD and the 250,000 BSD expected to come from the Condensate Refineries through the private sector partnership respectively would supply the requirement of Premium Motor Spirit (PMS) needs in Nigeria.

Kyari’s position only corroborated that of President of the Dangote Group, Aliko Dangote who said he was dissatisfied with the fact that Nigeria is a leading oil producer but imports all her petroleum needs.

Dangote who was speaking on his refinery project in Lagos said it was the unsavoury situation the nation found itself that made him take up the challenge to embark on the construction of the gigantic refinery project, which he said is one of the biggest in the world.

According to him, some 29,000 Nigerians would be employed in the refinery when completed and that would also help in the employment generation drive of the federal government.

Kyari, who was represented by the Group Executive Director, Downstream, NNPC, Adeyemi Adetunji, explained that the diversification of NNPC’s portfolio through acquisition of 20 per cent equity valued at $2.6 billion in the 650,000 bpd Dangote Refinery located in the Lekki Free Trade Zone would ensure national energy security and guarantee market for Nigeria’s 300,000 bpd.

He stated, “NNPC is adding 215,000 BPD of refining capacity through private sector driven co-location at the existing facilities in Warri Refining and Petrochemical Company (WRPC) and Port Harcourt Refining Company (PHRC) respectively.

Modular refineries are also adding capacities such as the 5,000 BPD Waltersmith refinery, which will be upgraded to 50,000 BPD.

“Additional 250,000 BPD is expected to come from the Condensate Refineries through the private sector partnership. The co-location and Condensate refineries will close the PMS supply-demand gap and create positive returns to the investors,” the NNPC helmsman added.

He said the Corporation has progressed with the Refineries Rehabilitation Programme to boost its participation in the oil & gas value chain by awarding the $1.5 billion Port Harcourt rehabilitation contract with the commitment to deliver on Warri and Kaduna Refineries.

On gas commercialisation efforts, Kyari said the Federal Government has declared 2021-2030 as the decade of gas development in Nigeria.

Kyari said the demand for natural gas could grow about four times over the next decade, increasing from 4.8 billion cubic feet per day (bcf/d) in 2020 to between 10 – 23 bcf/d in 2030.

He said currently, supply to the domestic market was about 8bcf/d to power, 0.77 bcf/d to industries, and about 54 bcf/d was flared, while 3.2 bcf/d was for export gas through the LNG and the West Africa Gas Pipeline (WAGP).

Source: Guardian.ng

Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleCourt sanctions defence team in alleged N761.6m subsidy fraud trial
Next Article Nigerian religious leaders worse than political rulers, says Aisha Yesufu
admin@theprimetimes
  • Website

Related Posts

Fidelity MD, Onyeali-Ikpe Urges Women to Embrace Lifelong Learning, Collaboration for Career Success

June 22, 2025

CBN, NCC Move to Resolve N250bn USSD Debt Dispute

December 27, 2024

Duport Refinery Saga: Tinubu Administration Faces First Major Test As AASU Kicks

September 6, 2024

2024 World Cooperative Day: MedLab Practitioners Changing the Narrative of Cooperative Society in Nigeria

July 5, 2024
Leave A Reply Cancel Reply

Recent Posts
  • Ajia Appreciates Emir of Fune, Others, Vows Loyalty and Service July 1, 2025
  • Court Admits Medical Report of Ex-Minister Saleh Mamman in EFCC Trial Over Mambilla Project Fraud June 30, 2025
  • Fune Emirate to Honour Alhaji Ibrahim Ajia with Title of Dan Amana for Exemplary Service, Loyalty and Philanthropy June 26, 2025
  • As 1447 AH Begins, Ashraaf Foundation Urges Return to Faith, Unity, and Global Harmony June 26, 2025
  • Behind the Scenes, Beyond the Noise: The Legacy of Dr. Ali Barde Umoru June 23, 2025
Our Picks

October 18th: World Inherited Blood Disorders Day – GANSID

October 17, 2024

Ajia Congratulates Newly Appointed Ilorin Emirate Traditional Leaders

August 25, 2024

May Day: Tinubu Pledges Better Living Conditions, Salutes Nigerian Workers

May 1, 2024

Hajia Fatimata Aliagan: Celebrating An Iconic Woman of Virtues @ 50th

February 18, 2024
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Politics

APC unveils Shettima as Tinubu’s running mate despite opposition

By admin@theprimetimesJuly 20, 20220

• Replace Shettima with a Christian, APC Muslim youths tell Tinubu • We’ll reject Muslim-Muslim ticket,…

Maitakobi Greets Nigerians on New Year Celebration, Calls for Unity

December 31, 2023

2023: PDP may dump zoning as NEC meets over Ortom report

May 11, 2022

Lancelot Imasuen’s ISFF Honors, Bestows Grand Patronship On Distinguish, Eminent Nigerians

October 11, 2023

Subscribe to Updates

Get the latest creative news from The Prime Times.

About Us
About Us

The Prime Times, to be known and called The Prime is founded in the year 2020 and it is being published by Nigeria ArtsDaily Media and Publishing Company Limited

Continue>>>

Editor's Picks

October 18th: World Inherited Blood Disorders Day – GANSID

October 17, 2024

Ajia Congratulates Newly Appointed Ilorin Emirate Traditional Leaders

August 25, 2024

May Day: Tinubu Pledges Better Living Conditions, Salutes Nigerian Workers

May 1, 2024
New Comments
  • https://ukrain-Forum.biz.ua on FG Organises Special Lecture, Juma’at Prayer In Commemoration of June 12, Democracy Day
  • James Luka on Where Is Nigeria’s Tourist Industry – Especially Targeting Diaspora?
  • Prime Times on Saraki Made Everyone Who Worked with Him Better than He Met Them – Hon. Moshood Bakare
  • Ayo Abdul oganija on Saraki Made Everyone Who Worked with Him Better than He Met Them – Hon. Moshood Bakare
Facebook X (Twitter) Instagram Pinterest
  • About
  • Contact
  • Advertise
© 2025 The Prime Times. Designed by Chancerbyte.

Type above and press Enter to search. Press Esc to cancel.