Nigeria To Become Net Exporter Of Petroleum Products By Year End – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has announced that the country was set to become a net exporter of petroleum products by the end of the year.

This was revealed by NNPCL Group CEO, Mr. Mele Kyari, during an Emergency Interactive Session with managers of the nation’s economy organised by the Senate Committee on Finance at the National Assembly in Abuja on Monday.

The session, led by the Senate Committee chairman, Senator Muhammed Sani Musa, was convened to address pressing economic issues.

Mr. Kyari’s remarks were shared on NNPC’s official Facebook page on Tuesday, accompanied by photos from the event.

In his statement, Kyari said, “Based on emerging indicators and developments in the energy sector, Nigeria will be a net exporter of petroleum products by the end of the year.”

He highlighted the recent increase in crude oil production, attributing it to Executive Orders issued by President Bola Tinubu and the concerted efforts of NNPCL and other industry stakeholders to combat low crude oil production.

Kyari assured that NNPC Limited remained committed to its mandate of ensuring national energy security as outlined in the Petroleum Industry Act (PIA) 2021.