NNPC Targets 60% Local Refining Capacity For 2017

Channels Television  
Updated January 8, 2017

NNPCThe Nigerian National Petroleum Corporation (NNPC), says it is targeting a refining capacity of 60 % in 2017, to reduce the importation of petroleum products into the country.

The group Managing Director of the corporation, Dr Maikanti Baru, explained that NNPC is keen on ending product importation in a few years and that concrete plans are on ground to achieve that.

In his words, “we are putting together various programmes to ensure that we achieve at least 60 per cent local refining by the end of this year.

“It is the procedure or methodology that we are changing a little bit, we are focusing on the process licensors to come and audit our processes and they have already started auditing most of our process units in the various refineries.”

Dr. Baru also appealed to residents not to vandalise pipelines, which has become a big challenge to the growth of the oil and gas sector.

A group that calls itself the Niger Delta Avengers, had claimed responsibility for serious attacks on oil installations.

Again recently, the group declared “Operations Walls of Jericho and Hurricane Joshua“, signifying an intention to resume attacks on oil facilities in Nigeria’s southern region.

Made In Nigeria

With the crash in oil prices, in a country that has solely relied on oil as a major source of revenue, the Federal Government of Nigeria has since begun to look for alternative sources of revenue generation.

Areas such as agriculture and manufacturing, have proven to be the most viable means of reviving the nation’s economy, from what has been described as the worst recession in Nigeria’s history.

In the light of this development, Nigeria’s Senate President, Dr Bukola Saraki, recently flagged off a Made-in-Nigeria challenge, aimed at encouraging local manufacturers and entrepreneurs in the country.