NNPC’s Group Chief Executive Officer, Mele Kyari, explained
that the refining of crude oil into PMS in Nigeria would compress the logistics
cost around petrol supply by about N17/litre, describing this as significant.
This was also confirmed by oil marketers on Wednesday, who
told our correspondent that it was high time the Federal Government, through
NNPC, got Nigeria’s refineries working, based on the huge benefits this would
avail the country.
NNPC supplies over 60 million litres of petrol daily to keep
Nigeria wet with the product. A N17/litre reduction in logistics cost would
translate to N1.02 billion savings daily.
Based on this, Nigeria is going save over N367billion
annually once the country starts producing petrol domestically from Dangote
Refinery, as well as the country’s refineries under the management of NNPC
Kyari, while speaking during a programme on Nigeria
Television Authority (NTA), added that efforts were ongoing to get the Port
Harcourt and Warri refineries ready in the first half of this year.
It was pointed out that the local refining of crude would
not lead to a substantial decrease in petrol prices, though there would be some
logistical advantages.
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