We Will Support NNPC Limited To Succeed

We Will Support NNPC Limited To Succeed

The Speaker of the House of Representatives, Tajudeen Abbas has said NNPC Limited will be supported for optimal function.

The case of the refineries, we have now realised that some sectors of NNPC business can only be handled by the private sector and our refineries are one of those.

There is need to make these refineries have multi dimensional uses, if there is no crude oil, are there other activities that can make the workers to be active so that what they earn is deserved; I need you and your management to look at how we can turn around this decades of losses;

“One way to do so is to find a way to privatise these refineries; we have spent so much money and time deceiving ourselves that some businesses can be run by the government.

The inadequacies will become manifest as soon as Dangote’ refinery comes on board because the competition will be there and inefficiencies of the refineries will become more naked.

“I want you to put it as part of your cardinal objectives, let us find ways to privatise our refineries so that they can be active so that in the near future, they will be able to compete with new refineries that will come up,” he said.

Abbas said that the NNPCL is central to the economic development of Nigeria pledging the commitment of the house to supporting the company to succeed.

Earlier, Kyari said that all refineries will become fully operational and Nigeria will become a net exporter of petroleum products by the end of 2024.

He said that payment of subsidy was responsible for inactive refinery activities in Nigeria over the years saying that the removal of subsidy is already attracting a lot of private sector investments.

“I can confirm to you that by the end of December latest, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, Kaduna refinery will come into operation.