While President Bola Ahmed Tinubu’s administration is preparing to get its refineries operational by the December deadline, statistics from the World Energy 2023 study revealed a 92% decline in crude oil refining output over the past decade.
According to the data presented in the research, daily production from the four refineries in the country dropped from 92,000 in 2012 to 6,000 in 2022. The number indicates a decrease in production capacity of 92%.
The information came from the Energy Institute report, which was released in its 72nd edition.
Consistent with the most recent data from the OPEC Annual Statistical Bulletin 2023, the report detailed a precipitous decline in the country’s crude oil refining capacity, from 33,000 bpd in 2018 to 6,000 bpd in 2022, an 81% reduction in production output.
Despite having four refineries operated by the government, the country is still being attacked for continuing to import refined petroleum products.
A total of four refineries, two in Port Harcourt and one in Warri and Kaduna, can handle about 4.45 million barrels of crude oil per day.
Heineken Lokpobiri, the minister of state for petroleum, had previously stated in August that, following multiple delays, the Port Harcourt plant will commence operations by the end of this year.
In a similar vein, Mele Kyari, the Group Chief Executive Officer of NNPCL, has verified that the Port Harcourt refinery will commence operations in December 2023.
He made the statement last Thursday during a meeting with Tajudeen Abbas, the Speaker of the House of Representatives.
It has been confirmed that the Port Harcourt refinery will commence operations by the end of this year. The Warri refinery is scheduled to begin operations early in the first quarter of 2024. The Kaduna refinery is expected to come into operation by the end of 2024.
By the end of 2024, we will have moved on from the topic of fuel imports. “I am extremely hopeful that this will come together,” he stated.
Mismob Media