The 2019 target set by the Nigerian National Petroleum Corporation to exit importation of premium Motor Spirit (pms) is still achievable, Group Managing Director, Dr. Maikanti kachalla Baru, has said.
Dr. Baru made this known while fielding questions from journalists on the sidelines of the just concluded offshore Technology Conference (OTC) in Houston, United States of America.
The GMD, who was represented by the Chief Engr. Saidu Mohammed, told journalists that as at today, all the nation’s three refineries were producing petroleum product.
“we load out at least 5 to 6 million litres of PMS daily and about that same three refineries.
That is part of what is making the PMS market believe that the set target of exiting PMS importation in 2019 is achievable ” he stated.
He maintained that because rehabilitation of the refineries has been hampered by lack of regular Turn Around Maintenace (TAM) OVER the years, it would take more years to get refineries fully back to their nameplate capacity.
“Don’t forget also that for us to exit PMS importation in 2019, we have to also bring in new refineries that will co-locate with existing ones together with the new ones that will be built.
Then, we see ourselves as a net exporter of product.
On this, I can tell you that we are on course, “he added.
He observed that following NNPC’s foray into the energy sector through electricity generation and other renewables, Nigeria perennial power sector woes may soon be over
“essentially NNPC has been there. Many people don’t know that the NNPC has been part of the power sector.
We supply steadily about 1000mw from Afam and Okpai, two of Nigeria’s most reliable power plants serving as one of the cheapest sources of power today in the country, “he noted.
According to the GMD the NNPC has engaged it’s joint Venture Partners, Chevron and Total, to build similar power plants at Obite and Agura.
He said the Corporation was also looking at bringing in new investors.