Nigeria’s petroleum industry is considered to be the largest in Africa. However, the country is still unable to meet fuel demand and is constantly suffering from fuel scarcity.
The lasting queues at petrol stations across Nigeria have been a big source of sorrow for residents of the country and the government.
Nigerians have many times expressed their belief that instead exporting petroleum products, being self-sufficient in refining the product would be the lasting solution to the problem.
Currently, the largest producer of crude oil has four main refineries and is being managed by the NNPC and Niger Delta Petroleum Resources (NDPR).
Ibe Kachikwu, the incumbent oil minister, while taking the office disclosed that the goal is to produce more than 10 million litres of petrol daily.
According to a statement by the NNPC in January the Kaduna, Port Harcourt and Warri refineries were producing over 6.76 million litres of petrol per day.
NNPC has four refineries, two in Port Harcourt (PHRC), and one each in Kaduna (KRPC) and Warri (WRPC). The refineries have a combined estimated capacity of 445,000 bpd. A comprehensive network of pipelines and depots strategically located throughout Nigeria links these refineries.
The administration of President Muhammadu Buhari had recently apologised to Nigerians for the blackout and the inherent hardship it had caused them.
A consistent decline in the nation’s electricity supply has led to a blackout countrywide, causing Nigerians huge economic hardship in their efforts to provide electricity and water to their homes.
Minister Kachikwu affirmed NNPC’s commitment to monitor pump price across the country as sanctions would be placed on depot owners found guilty selling above the approved ex-depot price of N77.