The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Ltd, Mele Kyari has reaffirmed the company’s dedication to addressing Nigeria’s “energy trilemma” by focusing on energy security, sustainable growth, and affordability.
Kyari stated this during the 42nd Nigeria Association of Petroleum Explorationists (NAPE) Annual International Conference and Exhibition in Lagos, themed “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth and Affordability.”
Reacting to claims that NNPC Ltd is sabotaging the efforts of domestic refineries, Kyari said the NNPC Ltd is part-owners of the Dangote Refinery and stressed further that such investment is a strategic move aimed at strengthening domestic fuel supply.
Kyari, who commended President Tinubu’s efforts to relieve forex pressures by reducing fuel imports and strengthening Nigeria’s local refining capacity, emphasised the need for collaboration, innovation, and technology in achieving Nigeria’s energy goals.
“Resolving the energy trilemma requires bold ideas, shared knowledge, and collective determination. Together, let us build a Nigeria where energy is secure, sustainable, and affordable for all.”
According to him, NNPC Ltd is set to collaborate with private refineries to ensure affordable and sustainable petroleum products supply and Naira-for-crude transactions in order to stabilise the local currency and regulate forex markets.
This, he added, will bring about the expansion of gas infrastructure such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipelines projects and the development of cleaner energy options, such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG).
The GCEO, who was Special Guest of Honour at the occasion, also said the company has perfected plans to deliver 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants soon, as part of efforts to boost the existing 1.6bscf of gas supply for domestic market.
Key Highlights from Kyari’s Address:
- Support for Domestic Refineries:
Kyari addressed concerns about NNPC Ltd allegedly undermining domestic refineries, clarifying that the company is actually a part-owner of the Dangote Refinery. He described this investment as a strategic move to enhance Nigeria’s fuel supply security.
- Local Refining and Forex Stability:
Commending President Bola Tinubu’s efforts to alleviate foreign exchange pressures, Kyari emphasized NNPC’s role in reducing fuel imports by bolstering Nigeria’s local refining capabilities. He pointed out that collaboration with private refineries would help ensure an affordable and sustainable petroleum product supply. Additionally, Naira-for-crude transactions are being considered to stabilize the local currency and control foreign exchange markets.
- Expansion of Gas Infrastructure:
NNPC Ltd is committed to expanding Nigeria’s gas infrastructure. Projects highlighted include:
Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline
Obiafu-Obrikom-Oben (OB3) Gas Pipelines
These projects aim to support Nigeria’s shift towards cleaner energy, focusing on Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG) solutions.
- Boosting CNG and LNG Supply:
Kyari announced plans to establish 12 Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants, which are expected to enhance the existing 1.6 billion standard cubic feet (bscf) gas supply for the domestic market.
- Call for Innovation and Collaboration:
Emphasizing the need for collaboration, innovation, and technology, Kyari encouraged stakeholders to work together to build a Nigeria where energy is secure, sustainable, and affordable.