By Faridat Salifu
In a recent revelation, the World Energy 2023 report has brought attention to the precipitous decline in Nigeria’s crude oil refining output, plummeting by an alarming 92% over the past decade. This decline raises profound concerns about the stability and sustainability of Nigeria’s energy sector.
The report underscores a stark reality: from a robust production level of 92,000 barrels per day (bpd) in 2012, Nigeria’s refining capacity has dramatically contracted to a mere 6,000 bpd in 2022.
This conspicuous reduction in output signals a compelling and immediate need for effective intervention to avert a potential crisis in the country’s energy infrastructure.
Despite Nigeria’s ownership of four government-operated refineries in Port Harcourt, Warri, and Kaduna, collectively capable of processing approximately 4.45 million barrels of crude oil daily, the nation persistently relies heavily on importing refined petroleum products.
This dependence on imports poses a significant threat to Nigeria’s energy security and economic stability.
In response to this critical situation, the Minister of State for Petroleum, Heineken Lokpobiri, has unveiled plans for the Port Harcourt refinery to recommence operations by the end of the current year, countering the prolonged period of inactivity.
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), has also expressed a commitment to revitalizing the refinery operations. He is optimistic about the Port Harcourt refinery resuming operations by December 2023, with the Warri and Kaduna refineries following suit in early 2024 and the end of 2024, respectively. These concerted efforts aim to guide Nigeria towards renewed self-sufficiency in refined petroleum products, marking a pivotal departure from heavy reliance on fuel imports.
In pursuit of the ambitious goal to cease fuel importation by 2024, the federal government under President Bola Ahmed Tinubu is intensifying efforts to rejuvenate and restore Nigeria’s refinery operations. This visionary initiative seeks to safeguard the nation’s energy sector from the looming threat of collapse and propel Nigeria towards a more resilient and self-reliant energy future.