Newsbreak: Tinubu to end fuel import by 2024
By Ologeh Joseph Chibu
Nigeria will stop the importation of fuel in the first quarter of 2024, President Bola Tinubu has said.
Already, work is in top gear in at least two refineries of Warri and Port Harcourt.
An official in the Presidency who does not wish to be named had told Irohinoodua last week that the Port Harcourt refinery most likely will start production this year end.
President Tinubu pins his hope on recent investments in the refineries with the hope that at least two of the will be completed before the end of the year.
The Minister of State for Petroleum Resources, Heineken Lokpobiri confirmed that the oil import will stop by 2024. He relayed the President’s decision during a working visit to the Port Harcourt Refining Company in Eleme, Rivers State this weekend.
The Minister was joined on the tour by Minister of State for Gas Resources, Ekperikpe Ekpo.
He said “Our objective is to ensure that in the next few years, Nigeria stops fuel importation and that is why we are here to see the extent of work done, and we are satisfied with what we are seeing here.”
“Nigerians should expect better supply of fuel and better economy. But I can assure you that Nigeria will have a better deal in this renewed hope Administration of president Bola Ahmed Tinubu.”
Ekperikpe Ekpo, Minister of State for Gas Resources boosted the President’s plan. He said Nigeria is anxious for gas production and electricity generation.
The Minister said $1.5 billion refurbishing deal will bring back the Port Harcourt refinery before the end of the year.
The Port Harcourt refinery currently has the capacity to produce 60,000 barrels of petroleum per day.
The Minister said “The essence of today’s inspection is to come see the extent of work done at the Port Harcourt Refinery and we are happy with the level of work done here.
“From what we have seen here, we believe the project will be completed as scheduled. The Port Harcourt Refinery will come on board fully by the end of this year, 2023. Warri will start operating by the first quarter of next year and then, Kaduna will come on stream towards the end of next year.
“The Port Harcourt Refinery when completed is expected to produce about 54 to 60 barrels per day, while Warri refinery when it comes on stream by February, 2024 will produce 75 barrels of oil per day. If we add that to Dangote refinery we will be able to stop fuel importation and Nigeria can now have the benefits of full deregulation.
“We will be going round all the refineries in the country, from Port Harcourt, we will go to Warri, to Kaduna. We will also go to Dangote refinery to see the level of work there.
