The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Maikanti Baru, has said there is no going back on a December 2019 deadline set to stop the importation of petroleum products into the country.
Mr Baru stated this while delivering a speech at the recently concluded Offshore Technology Conference 2018 Nigeria Oil Industry Award Dinner in Houston, Texas, United States.
According to him, the dream of transforming Nigeria from a net exporter of crude oil to a net exporter of petroleum products would in the months ahead become a reality.
The GMD disclosed further that tender exercises for companies interested in the rehabilitating the nation’s four refineries had been completed and successful companies for the different projects would soon be announced.
“This model is expected to be a self-sustaining financial model with near zero reliance on the federal government funds. For smooth running and implementation, we are also changing the operating and commercial framework of the refineries to make them work efficiently and be commercially viable,’’ he said.
Mr Baru also pointed out that the corporation and the Ministry of Petroleum Resources were also collaborating to encourage the establishment of modular refineries in the Niger Delta area to encourage job creation.
Hecsaid, so far, about 35 expressions of interest for the establishment of modular refineries had been declared and the Department of Petroleum Resources, DPR, had issued licenses to 13 of them.