Nigeria, Emerging Hub for Refined Petroleum Products in Africa — Energy Player


By Patience Omoha

Alhaji Muhammad Saleh-Hassan, oil and gas actor and chairman of Skymark Energy and Power Ltd, said Nigeria will become Africa’s hub for refined petroleum products in the next two years.

Saleh-Hassan made the claim in an interview with the News Agency of Nigeria (NAN) and some selected journalists in Abuja on Friday.

According to him, the feat will be achieved thanks to the efforts exerted by the administration of President Muhammadu Buhari.

He said the energy sector will soon change for the better, especially with ongoing efforts such as the federal government’s refurbishment and reconstruction of oil refineries across the country.

According to him, President Buhari being the Minister of Petroleum Resources and Mr. Mele Kyari the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) are already poised to turn around the oil and gas sector for optimum benefits for the people. Nigerians.

“The refineries will certainly soon begin to operate at full capacity and respond to the aspirations of the population. It is expected that by 2023/2024, Nigeria will become the African hub for refined petroleum products.

“It is the management of NNPC Limited and they are focused on this achievement, which is achievable. Whatever pains Nigerians are currently going through, it is only a matter of time. As it is now, it is a no pain, no gain situation.

“Nigerians must be assured that the lingering crisis in the oil sector will soon be over.

“This is a continuation of the Federal Government’s continued efforts to rebuild refineries and transform Nigeria into an African hub for refined petroleum products and an exporting nation,” he said.

Saleh-Hassan explained that under Buhari and Kyari, the oil sector is witnessing a massive turnaround thanks to their proactive and meticulous efforts that transformed NNPC into a for-profit limited liability company.

He noted that the company’s new business status has led it to report profits, which has also resulted in ensuring its stability and contributed massively to the country’s economic growth.

The Skymark Energy boss has expressed dismay that billions of naira have been wasted in the past on refurbishing refineries under different administrations, but they have not been operating to their full potential.

“For the first time, the country’s three refineries at Port Harcourt, Warri and Kaduna have seen stability measures, compared to previous administrations when they were in a comma with a lingering crisis in the country’s oil sector.

“But currently all refineries are running consistently due to some degree of maintenance, inspired by the administration led by Buhari, as well as Kyari’s leadership as NNPC helmsman,” he said. .

According to him, NNPC Limited was completely turned around thanks to the strong synergy between them.

“In other words, insinuations in the public domain that refurbishing Nigerian refineries is a waste of public funds due to past failures do not hold water.

“What NNPC Limited and the Federal Government are doing is not just refurbishing, but rebuilding refineries. Clearly, 21st century technological expertise is being put in place by today’s leaders to achieve this goal.

“Thus, Nigerians should put the worries of the past behind them and look forward to new developments inspired by the concern and sincerity of the current government,” Saleh-Hassan said.

Saleh-Hassan also explained that the difference in leadership and expertise meant that what hadn’t worked over the years could now start working because there was a new sheriff in town.

The oil industry expert explained that refineries might currently appear to be running at a low point due to the increase in the country’s population, compared to the 70s and 80s when they were built.

He added that the population boom has also led to an increase in the number of vehicles and other oil-consuming facilities, coupled with the fact that some African countries are also dependent on Nigeria for refined petroleum products, which puts pressure on refineries. .

The energy industry player said the Dangote refinery, which will soon come into operation, will greatly contribute to boosting the national oil refining and boosting its national supply.

He said: “There are indications that NNPC Limited has a stake of around 20% in the Dangote refineries being constructed in Lekki, Lagos. It is the Nigerian crude oil that will be transported there to be refined.

“The moment the three Nigerian refineries and the Dangote Refinery synergize, Nigeria would no longer export crude oil to foreign countries to be refined and brought back to us at exorbitant prices.

“Refining will be done locally here to inspire an affordable and stable oil price. Importing refined oil will be a thing of the past.

“It is a legacy to be remembered from Buhari’s administration and Kyari’s leadership at NNPC Limited. I therefore encourage Nigerians to be patient as better days are ahead in the oil sector.

“It is also worth noting that huge jobs would be generated for Nigerians when all the refineries are fully in place.”

Saleh-Hassan also justified the money spent by the federal government on fuel subsidies, pointing out that removing oil subsidies would shake up the country’s economy and have a negative impact on the masses.

He explained that maintaining the subsidy was synonymous with the federal government paying the people’s bills.

According to him, while the world is currently groaning due to rising oil prices, due to the Russian-Ukrainian war, Nigerians are not feeling the pain so much due to the constant subsidy in place, adding that the Federal Government is the one carrying the burden.

“A gallon of PMS costs around $3,000 Naira per liter in Europe, but a liter still costs Naira 165.00 in Nigeria. It is the grant that guarantees this immense relief to Nigerians.

“For me, Buhari and Kyari deserve applause for this gesture. They are geniuses in securing the grant for the benefit of the masses.

“If the refineries start operating after they are rebuilt and the subsidy is removed, then the subsidy will no longer be needed.

“Then taxes could be removed on other products and services and prices would fall and the living conditions of Nigerians would improve significantly,” Saleh-Hassan added. (NAN) (www.nannews.ng)

OPO/YEN/IAA

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Edited by Mark Longyen/Isaac Aregbesola

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