Nigeria to begin exportation of petroleum, petrochemical products in 4 years

Minister of State for Petroleum Resources Ibe Kachikwu, during a recent media brief in Abuja stated that within the next four years, Nigeria would begin to export refined petrol and petrochemical products.

Kachikwu who is also the Group Managing Director, Nigerian National Petroleum Corporation (NNPC) explained his plans for the oil sector; he said that plans are in place to bring Dangote’s private refinery on board and majorly to co-locate new refineries within the already existing refineries in Kaduna, Warri and Port Harcourt.

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“We have advertised recently for co-located refineries and asking people to come and co-locate new refineries into our refineries’ premises so that they can share pipelines, tankages,” said stating the benefits of the plan.

The petroleum minister noted that it would take about three years to co-locate refineries and begin production; Kachikwu said that if all goes as planned, Nigeria would produce more than it needs and begin exporting.

We are working hard to see that we can complete whatever refinery upgrade we are trying to do within the next 12 to 18 months and obviously for the co-located refineries which are the new ones, targeting to see that we are able to finish within two to three years,” he said.

Adding that Dangote will come on stream between 2019 and 2020.