NNPC looks up to Dangote, Europe to bridge supply gap in 2025

The Nigerian National Petroleum Corporation (NNPC) says it looks up to the completion of the Dangote Refinery to meet up with the increasing demand of petroleum products in the country.

The corporation said with the expected population growth of 230 million by 2025, the refinery would help meet the 427,000 barrels per day supply.

This was disclosed by the Group Managing Director, NNPC, Dr Maikanti Baru, on Saturday in Warri, Delta State, after a facility tour of Lee Engineering and Construction Firm.

According to him, other plans being worked upon by the Corporation include the co-location of refineries from Europe to the country.

Baru noted, “We are focusing on 2025 to see what the supply gap is and how to meet it. Obviously, with the coming of Dangote refinery and the full rehabilitation of our refineries, there will be a supply of 427,000 barrels per day of refining capacity.

“This will help us to be able to meet our demands based on the projection of the growth of our population from 180 million we had about four years ago which is projected to go up to about 230 million people with corresponding consumption.”

He explained that one of the refineries would be located in Port Harcourt while another would be located in Warri.

“There are private sector players that have offered that they want to bring some refineries that will be moved from other Europeans countries to Nigeria.

“One will be in Port Harcourt to produce about 110,000 barrels per day and another one in Warri to produce about 115,000 barrel per day,” he stated.

SOURCE: ripplesnigeria.com