The Nigerian National Petroleum Company Limited (NNPCL), yesterday, reiterated its determination to end the decades-long importation of petrol and other fuels into the country in 2024. Group Chief Executive Officer (GCEO)of NNPCL, Mele Kyari, disclosed this in Abuja at the unveiling of two books, “Dynamics of Petroleum Products Marketing,” and “Insight into Crude Oil Marketing,” both written by former Group Executive Director of the National Oil Company (NOC), Professor Billy Okoye.
Kyari assured that the company was now on a new trajectory to providing the country with adequate fuel supply.
Relatedly, the senate, yesterday, rejected allegations of fraud in the turnaround maintenance of the country’s refineries currently being undertaken by NNPCL.
Chairman of the senate ad hoc panel probing the turnaround maintenance work undertaken by the federal government through NNPCL, Senator Ifeanyi Ubah, told his colleagues that he already had some documents on the issue, but no fraudulent practice had so far been discovered in the exercise.
Nigeria has long been a net importer of almost all its petroleum products. But the country recently put up for rehabilitation its four comatose refineries, which were expected to come on stream by the end of the year.
At the event in Abuja, the NNPCL GCEO stated that the writing of the books depicted the quality of human beings that had passed through the organisation.
Kyari, who was initially represented by the national oil company’s Chief Financial Officer, Umar Ajiya, before he showed up, stated, “It is not an easy task, but it is a task that must be done and which has been obligated upon that company, especially now I see the Petroleum Industry Act (PIA). Whether we did it at a profit or at loss in the past is nobody’s business.
“But the Act has simply made it possible now that we can do it, but on the account of the federation. So we can never declare loss to Nigerians. And that’s why, as he said, we have moved from a loss-making corporation, literally six months, when we took over, we broke even, by the first year we had declared profit.
“We have moved the company from one that is fundamentally focused on upstream development to refining and downstream marketing.
“The chief host has alluded to the inefficiencies of the past, of where we were literally sending crude outside and importing fuel.
“That trajectory will change this year. And Nigerians will not be buying petroleum products, but will be refining a lot of petroleum products to fund development. This is a commitment that NNPC chief executive, board and management of the NNPC have made to Nigerians and we are able to do it.”
Kyari recommended the book, “Dynamics of Petroleum Products Marketing,” and “Insight into Crude Oil Marketing,” to both the local and international players, who might want to know what it took to run the sector in a country like Nigeria.
He described Okoye as a man full of energy, capacity, and competence, and who had remained simple and humble, despite his many achievements.
Kyari added, “That’s something to be proud of. So we at NNPC are, indeed, very proud that one of us is not only sharing knowledge that has over the years been with the rest of us, but also something that can grow for a very long time in the academic world and also the world over.”
Equally speaking at the book launch, the author, Okoye, who is current Coordinator, Oil, Gas and Energy Marketing at the University of Abuja Business School, said the books aimed to offer a comprehensive understanding of the intricate dynamics, the challenges, and strategies involved in marketing commodities.
He stated that the books provided insights into refining processes, pricing mechanisms, political influences, fuel subsidy issues, and the ongoing energy transition processes, as well as a comprehensive framework for navigating the complexities of petroleum products marketing.
Okoye added, “By offering practical insights and analytical perspectives, this book aims to equip readers with the knowledge and tools needed to navigate the volatile and ever-changing world of crude oil marketing.”
At the event, which also saw the launch of AptFuel Technologies, Okoye stated that drawing from hands-on experience, he attempted to distil the complexities into accessible and informative resources for professionals, academics, and engineers alike.
The chief host and Vice Chancellor of the University of Abuja, Professor Abdulrasheed Na’Allah, said Nigeria needed more opportunities for universities to bring about ideas that will resolve some of the gigantic problems in the oil sector.
Na’Allah told the author, “These are books that are long-awaited. I’m very proud of you, but this is just the beginning. You need to write more books and explain why oil has to be a curse.”
In his remarks, Executive Vice President of NNPCL, Olalekan Ogunleye, stated that the books will equip readers with the knowledge needed to navigate the broad and often unpredictable terrain of crude oil marketing.
Meanwhile, the senate, yesterday, disowned alleged reports of fraud in the turnaround maintenance of the country’s refineries currently being undertaken by the NNPCL.
That was as Kyari assured Nigerians that the rehabilitation of the refineries would be completed on schedule. He specifically said the Port Harcourt refinery would come on stream within the next two weeks, while the Kaduna refinery would start producing by December this year.
Kyari spoke when he appeared before the senate ad hoc committee probing the maintenance being undertaken by NNPC on behalf of the federal government.
Chairman of the ad hoc panel, Ubah, said he was in possession of some documents on the issue, but no fraudulent practice had been discovered in the turnaround exercise.
