Despite the current 445,000 barrels per day (bpd) capacity of the country’s refineries and Dangote’s 650,000 bpd refinery expected by 2020, Nigeria will still have a shortfall of 427,000 bpd, equivalent of 20 million litres of Premium Motor Spirit (PMS), per day.

Dr. Maikanti Baru, Group Managing Director of Nigeria National Petroleum Corporation (NNPC), who disclosed this yesterday in Abuja, said the country would need a refining capacity of 1.52 million bpd in order to meet its PMS requirement by 2025.

Delivering a state of the industry address at this year’s Society of Petroleum Engineers (SPE) Oloibiri Lecture Series & Energy Forum, Baru said Nigeria’s petroleum product demand is expected to grow from 13.2m metric tonnes (MT) in 2015 to 15.1m MT in 2020 and 17.3m MT by 2025 while the population growth corresponding to this demand is 182m in 2015, 207m in 2020 and 234m in 2025 respectively.

He said in order to address the imminent shortfall in PMS demand, NNPC would be adding 215,000 bpd of refining capacity through private sector driven co-location at its existing refineries in Port Harcourt (100,000 bpd) and Warri (115,000 BPSD) respectively.

“Additionally, NNPC through its new initiative of establishing Condensate Refineries with private sector participation is providing clusters for in-country refining capacity totaling about 250,000 bpd which closes the PMS supply-demand gap and creates positive margins to the investors,” he said

The NNPC boss said the improved in-country refining capacity plan will ensure Nigeria’s domestic crude oil utilization of up to 66 per cent with its attendant local manufacturing multiplier effect from associated industries such as petrochemicals for plastics and polymers used in everything from computers, medical equipment, wind turbines, solar panels, cosmetics, etc.

https://www.dailytrust.com.ng/daily-petrol-shortfall-to-hit-20m-litres-despite-dangote-refinery-nnpc.html

NNPC is a continuous criminal enterprise, created by Northerners to always be the Chairman to steal and steal billions of dollars from the south.

Do not listen to NNPC they're in panic, cos they won't be importing PMS into Nigeria soon.

NNPC and criminality is like 5$6

Thieves!

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Yet Saudi wanted to invest in our downstream sector and Rifenery, ignorant Atikulated Piglets were all over the internet complaining.

While some said Saudi wants to islamise them, Others think building refinery is a waste since electric cars are coming in(what of electric Cargo ship,Airplane, and Electric fertilizers and polymer). .


.

Wen Atiku said he wanted to sell off d NNPC some ediots most of who will avoid dis thread kept ranting and bleating like goats...

AtiKu was right on selling this fraud called Nnpc.


If sold, it becomes private. Private property and Government property can’t be compare and contrast.

nnpc shame no catch u? as big as u are u are depending on one man. what happened to all our refineries? we will never get it right. u produce next to nothing. we just sell crude oil and share the money. ships and cargo planes bring in goods from other countries and go back empty cos we have nothing to offer the world. back home its nothing but fighting in the name of tribe and religion. how can one expect progress with this type of useless formula?

Y na

I DO NOT UNDERSTAND WHAT IS REALLY WRONG WITH NIGERIA. IT SEEMS NOTHING CAN EVER WORKS FOR BETTER IN THE COUNTRY.

NNPC is the headquarters of scam, gibiti, 419 in Nigeria

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I now see reason why Atiku want 2sell out NNPC. Bumch of criminals personified.

Inorder for Nigeria to stop the excessive consumption and importation of petrol why dont they make electricity stable so that houses and families who don't have business with cars or bike won't have to waste money on petrol thereby reducing the amount we cosume in the country

Just remove subsidy, and I CAN BET MY BALLS that Nigerias fuel consumption will drop by 50%, all these numbers of barrels being churned out, more than half end up in Niger, Cameron, Chad & Benin for sale at a higher price

If Nigeria was a developed country, the country will even need more than its present production capacity of 2.2m barrels per day.

Delivering a state of the industry address at this year’s Society of Petroleum Engineers (SPE) Oloibiri Lecture Series & Energy Forum, Baru said Nigeria’s petroleum product demand is expected to grow from 13.2m metric tonnes (MT) in 2015 to 15.1m MT in 2020 and 17.3m MT by 2025 while the population growth corresponding to this demand is 182m in 2015, 207m in 2020 and 234m in 2025 respectively.

He said in order to address the imminent shortfall in PMS demand, NNPC would be adding 215,000 bpd of refining capacity through private sector driven co-location at its existing refineries in Port Harcourt (100,000 bpd) and Warri (115,000 BPSD) respectively.

“Additionally, NNPC through its new initiative of establishing Condensate Refineries with private sector participation is providing clusters for in-country refining capacity totaling about 250,000 bpd which closes the PMS supply-demand gap and creates positive margins to the investors,” he said

Takeaway points

1.Dangote is not the saviour. Then again, what did we expect. When his refinery opens it would be operating at half capacity...and is set to go full capacity in ten years.

2.NNPC does not want to privatise refineries yet...so it is collaborating. I just hope it works....

3.And NNPC wants to build new condensate refineries. Let's hope it works.

4.Subsidy removal is still the enlarged pachyderm in the room.

Zoo.

This is to let you know that subsidy payment would continue afterwards.

Subsidy,under recovery.....most Nigerians want nnpc to continue like that like someone said on January, nnpc is okay like that.

Jiang:
Just remove subsidy, and I CAN BET MY BALLS that Nigerias fuel consumption will drop by 50%, all these numbers of barrels being churned out, more than half end up in Niger, Cameron, Chad & Benin for sale at a higher price

The problem is , there is no public support for subsidy removal amongst most Nigerians...so the corruption continues...because low price of fuel is preferable to any benefits from subsidies...including ending smuggling.

I have suggested subsidy removal on this site several times. And I have been called a zombi, a wailer, an oppressor, a liar, and all sorts of names. No one wants subsidy removal.

tactius:


Takeaway points

1.Dangote is not the saviour. Then again, what did we expect. When his refinery opens it would be operating at half capacity...and is set to go full capacity in ten years.

2.NNPC does not want to privatise refineries yet...so it is collaborating. I just hope it works....

3.And NNPC wants to build new condensate refineries. Let's hope it works.

4.Subsidy removal is still the enlarged pachyderm in the room.

well,let's hope all work out well,hope in Nigeria is like a deep dream.

Bizibi:
well,let's hope all work out well,hope in Nigeria is like a deep dream.

My palaver is where NNPC is going to find the money for condensate refineries...when it is wasting billions on subsidy.

Somewhere along the line, the politically unpopular, but economically right decision of subsidy removal is going to be on the cards.

Even if we have refinery with the capacity to produce 2 billion barrel per day, refined product will still be imported...man must wack

tactius:


My palaver is where NNPC is going to find the money for condensate refineries...when it is wasting billions on subsidy.

Somewhere along the line, the politically unpopular, but economically right decision of subsidy removal is going to be on the cards.

NNPC!!!! That place!!....the money is there,the guys there and the elites know what they doing.

Why lie just to keep fuel subsidy in place?

Abrakadaba MD...Naso dem dey take prepared ground for next level thieving..