Nigeria to Start Exporting Refined Petroleum Products in Two Years

The Nigerian National Petroleum Corporation earlier this week said refined petroleum products would be exported from Nigeria to other countries in the next two years.

Nigeria currently imports refined petroleum products such as petrol, kerosene, diesel, etc, while the NNPC has been the sole importer of petrol into the country for more than three years.

This came as the Vice President, Prof. Yemi Osinbajo, also announced on Tuesday that the presidency would give timely consideration to the Petroleum Industry Bill that was recently passed by the National Assembly.

Osinbajo and Kyari spoke during an oil and gas event in Abuja. The vice president assured stakeholders that the PIB would receive the necessary urgency it required.

Speaking through the Minister of State for Petroleum Resources, Chief Timipre Sylva, Osinbajo said, “As you are aware, just last week the National Assembly passed the long awaited PIB.

“This unprecedented feat has been adjudged as a watershed moment for our nation. Let me assure you that the bill when transmitted to the presidency for assent will receive necessary and timely consideration.”

On moves to export refined petroleum products from Nigeria, Kyari said NNPC had developed initiatives around refinery rehabilitation, was focusing on it and would deliver on it.