Nigeria will stop the importation of Premium Motor Spirit otherwise known as petrol by 2019, according to Dr. Maikanti Baru, Group Managing Director of the Nigerian National Petroleum Corporation, NNPC
Baru disclosed this to newsmen on the sideline of the ongoing Offshore Technology Conference in Houston, Texas, U. S.
Baru, who was represented at the conference by the Chief Operating Officer, Gas, and Power, Mr. Saidu Mohammed, said the feat was achievable.
He said that all the nation’s three refineries were producing petroleum products between five and six million litres of PMS daily.
“That is part of what is making the PMS market in Nigeria stable today, we believe that the set target of exiting PMS importation in 2019 is achievable.
“As a result lack of turnaround maintenance over the years, it will take more years to get the refineries fully back to their nameplate capacities.
“We will also bring in new refineries that will co-locate with existing ones, we are on course and I see us becoming a net exporter of products,” he said.
He said in line with its transformation agenda, the corporation was aligning its 12 Business Focus Areas with the Federal Government’s 7-Big Wins as championed by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
Baru had earlier told newsmen that the corporation’s power supply was the most reliable and the cheapest.