As the federal government, led by President Bola Ahmed Tinubu, strives to meet the December deadline for the revival of its refineries, data from the World Energy 2023 report reveals a significant decline of 92% in the country’s crude oil refining output over the past decade.
According to the report published in the 72nd edition of the Energy Institute, the output from the nation’s four refineries has plummeted from 92,000 barrels per day in 2012 to a mere 6,000 barrels per day in 2022, signifying a staggering 92% reduction in production capacity.
This data aligns with findings from the Organisation of the Petroleum Exporting Countries’ Annual Statistical Bulletin 2023, which indicates that the country’s crude oil refining capacity has dwindled from 33,000 barrels per day in 2018 to 6,000 barrels per day in 2022, marking an 81% decline in production output.
Despite being home to four government-owned refineries, the country continues to face criticism for persistently importing refined petroleum products. These refineries, located in Port Harcourt (two), Warri, and Kaduna, collectively possess the capacity to process approximately 4.45 million barrels of crude oil daily.
In August, the Minister of State for Petroleum, Heineken Lokpobiri, expressed optimism that the Port Harcourt plant would finally commence operations by the end of the year after facing several delays. Similarly, Mele Kyari, the Group Chief Executive Officer of NNPCL, affirmed during a meeting with the Speaker of the House of Representatives, Tajudeen Abbas, last week that the Port Harcourt refinery is set to commence operations in December 2023.
Kyari further outlined the timeline for the other refineries, stating that the Warri refinery would begin operations in the early first quarter of 2024, and the Kaduna refinery is expected to come into operation by the end of 2024. He expressed confidence that by the conclusion of 2024, discussions on fuel importation would be obsolete, emphasizing his optimism in the realization of these targets
