May 12, 2022

“Nigeria will soon become Africa’s hub for the export of refined petroleum”

Chairman of Skymark Energy and Power Ltd, Muhammad Saleh Hassan, has expressed optimism that Nigeria will soon become Africa’s refined oil export hub.

Hassan said so during a conversation with reporters in Abuja over the weekend while shedding light on the current status of NNPC Ltd and Nigerian refineries.

He laid the silver lining on the federal government’s continued efforts to rebuild refineries
at Port Harcourt, Warrior and Port Harcourt as well as the Dangote Refinery under construction at Lekki, Lagos.

“With the continued efforts of the Federal Government not only to renovate but to rebuild the country’s three refineries at Port Harcourt, Warrior and Kaduna, they would certainly begin to operate at full capacity and meet the aspirations of the people. 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 feat which is achievable,” he said.

“For the first time under the leadership of President Muhammadu Buhari as Minister of Petroleum Resources and Malam Mele Kyari as Group Managing Director of the Nigeria National Petroleum Corporation Limited (NNPC), the petroleum sector is experiencing a massive turnaround. This is expressed through their proactive and meticulous professional efforts to transform NNPC into a for-profit limited liability company,” Hassan emphasized.

He added, “It is interesting to note that the new business status of the company has led it to report profits, which has also greatly contributed to ensuring the stability of the company and contributing massively to the economic growth of the country. country.

He also skinned criticism in the public domain that trillions of naira spent on fuel subsidy and refurbishment of Nigerian refineries was a waste of funds.

“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 certain levels of maintenance inspired by the administration led by Buhari as well as Kyari’s leadership as helmsman of NNPC Limited,” Hassan noted.

“NNPC Limited has been completely overthrown by the Buhari administration as well as Malam Kyari as GMD, thanks to the strong synergy between them. is a waste of public funds because of past failures do not hold up. What NNPC Limited and the Federal Government are doing is not just refurbishing but rebuilding refineries,” Hassan pointed out.

“Obviously, 21st century technology and expertise are being put in place by the present leaders of Buhari and Kyari 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.

“People should check their facts before making insinuations. Malam Kyari had gone to inspect overtime and expressed his satisfaction with it. By the end of this year or next, refineries would start operating at full capacity. He is above the job and I’m sure his name will be written in gold the moment his efforts come to fruition.

“Therefore, Nigerians should rest assured that the failure of the past would soon become the success of the present. Indeed, there is a difference in leadership and expertise, which shows that what has not worked over the years can now begin to work. It’s because there’s a new sheriff in town.

“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.

While talking in more detail about the economic prospects of the construction of the Dangote refinery in Lagos, the boss of Skymark Energy said: “There are indications that NNPC Limited has a stake of around 20% in the Dangote refineries. under construction in Lekki, Lagos. Nigeria’s crude oil will be transported there for refining. 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. As I said earlier, very soon, Nigeria would become Africa’s hub for refined petroleum products and would be dependent on other African countries. It is a legacy that will 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. Interestingly also, huge jobs would be generated for Nigerians when all the refineries are fully set up.