July 21, 2024
Suit 25, Mangal Plaza, Nouakchott Street, Wuse Zone 1, Abuja- Nigeria.

Nigeria’s Oil Sector to be Upgraded in 2024

The president of Nigeria, Bola Ahmed Tinubu has in his new year’s speech announced that the country’s Oil sector will be improved in the new year. He stated that the ongoing work in the sector will be delivered soon.

He further mentioned a major push towards self-sufficiency of Nigeria in petroleum products in the year 2024, through its quest to restart local refining of the products with Port Harcourt Refinery, and the Dangote Refinery.

He said that refineries will fully come on stream in the year 2024. He made the announcement during his new year speech in the early hours of Monday.

“In 2024, we are moving a step further in our quest to restart local refining of petroleum products with Port Harcourt Refinery, and the Dangote Refinery which shall fully come on stream.” He said.

“In our quest to ensure that this refinery is re-streamed to continue to deliver value to Nigerians, we made a promise that we will reach a mechanical completion of phase one of the rehabilitation project by the end of December and get the other plants running in 2024. Today, we have kept those commitments. We are done with phase one. We will complete phase two as promised within 2024, maximum – the last quarter of 2024.” He added.

Meanwhile, During the October 9 Energy and Labour Summit held in Abuja and organized by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), the NNPCL Group Chief Executive Officer, Mele Kyari, gave assurance on Nigeria’s readiness to become a net exporter of petroleum products in 2024.





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