Mele Kyari, Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Ltd, has reaffirmed the company’s dedication to addressing Nigeria’s energy trilemma, which encompasses energy security, sustainable development, and affordability.
Kyari shared these insights during the inauguration of the 42nd Annual International Conference and Exhibition of the Nigeria Association of Petroleum Explorationists (NAPE) in Lagos, themed: “Resolving the Nigeria Energy Trilemma: Energy Security, Sustainable Growth, and Affordability.”
As the Special Guest of Honour, Kyari announced that NNPC is prepared to launch twelve Compressed Natural Gas (CNG) Mother Stations and Mini LNG Plants shortly, aimed at enhancing the current domestic gas supply of 1.6 billion standard cubic feet (bscf).
“The energy trilemma presents a significant responsibility that we must embrace as custodians of Nigeria’s energy future. NNPC Ltd is diligently working to enhance our supply chain, develop additional refining capabilities, and expand our retail network,” Kyari remarked.
He further explained that NNPC Ltd plans to collaborate with private refineries to ensure a consistent and affordable supply of petroleum products, implementing Naira-for-crude transactions to stabilize the local currency and regulate foreign exchange markets.
This initiative is expected to facilitate the expansion of gas infrastructure, including projects like the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline and the Obiafu-Obrikom-Oben (OB3) Gas Pipelines, while also promoting cleaner energy alternatives such as Liquefied Natural Gas (LNG) and CNG.
“NNPC Ltd currently supplies over 1.6 billion standard cubic feet (bscf) of gas daily to the domestic market through infrastructure that is either fully owned or operated in partnership. This distribution network is entirely managed within NNPC Ltd.’s financial framework,” Kyari added.
Highlighting the company’s commitment to enhancing domestic energy access, Kyari stated that the next three to six months will witness the launch of significant projects, including CNG mother stations, mini-LNG plants, and additional CNG daughter stations.
Kyari praised President Tinubu for efforts to alleviate foreign exchange pressures by decreasing fuel imports and bolstering Nigeria’s local refining capabilities, emphasizing the importance of collaboration, innovation, and technology in achieving Nigeria’s energy objectives.
“Addressing the energy trilemma demands bold ideas, shared expertise, and collective resolve. Together, let us forge a Nigeria where energy is secure, sustainable, and accessible to everyone.”
Regarding NNPC Ltd’s mandate to ensure energy security as outlined in the Petroleum Industry Act, Kyari noted that the company has established partnerships and investments aimed at boosting local production and generating revenue for economic diversification.
In response to allegations that NNPC Ltd is undermining domestic refineries, Kyari clarified that NNPC Ltd is a part-owner of the Dangote Refinery, emphasizing that such investments are strategically aimed at enhancing domestic fuel supply.
