- The group managing director of the NNPC, Maikanti Baru, says Nigeria intends to become a net exporter of petrol
- He explains that the narratives about Nigeria are fast changing since the beginning of the present administration
- President Buhari reaffirms his administration’s commitment to the rapid development of the country
The group managing director of the Nigerian Petroleum Corporation (NNPC), Maikanti Baru, has said Nigeria is aiming to end fuel importation by the year 2019.
Daily Trust reports that Baru told participants at the 7th OPEC international seminar in Vienna, Austria on Thursday, June 21, that Nigeria also intends to become a net exporter of petroleum products.
He said the narratives about Nigeria are fast changing since the beginning of the present administration in the country.
“Our goal to become a net exporter of refined products by year 2019 is on course. There are ongoing discussions to revamp all the four (4) existing local refineries utilizing private capital in the form of a contractor financing model,” he said.
“This represents a shift in our investment model and serves as a springboard for redefining the commercial framework for midstream investment in Nigeria.”
The NNPC GMD said the country has provided stable environment and is changing its policy directions to guarantee safety of investments.
He stated that efforts put in place by the current administration has helped attract investors in the downstream oil sector and upstream.
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Meanwhile, President Muhammadu Buhari has insisted that his administration’s policies are beyond ethnicity, religion and geographical lines; and reaffirmed his commitment to the rapid development of the country.
He made the assertion on Wednesday, June 20, while receiving the Grand Khalifa of Tijjaniya, Sheikh Ahmed Tijjani Ibrahim Inyass, at the Aso Rock Presidential Villa, Vanguard reports.
NAIJ.com gathers that the president said that his administration will bring out the best in Nigeria, and promised to make the country the most beautiful place to visit in Africa.
Former NNPC group managing director Andrew Yakubu in court over fraud allegations on NAIJ.com TV