In 2024, Nigeria is poised to commence the export of refined petroleum products, according to Mallam Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL).
Kyari made this announcement during the 2nd edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit in Abuja.
He emphasized the country's transition toward self-sufficiency in product production and justified the removal of fuel subsidies by the federal government as essential to prevent NNPCL's financial distress.
Kyari also advocated for a shift to alternative energy sources in transportation, highlighting the progress being made with Compressed Natural Gas (CNG) buses nationwide.
He expressed confidence that Nigeria would become a net exporter of petroleum products by 2024, which would have numerous economic benefits such as wealth creation, increased tax revenues, job opportunities, and more.