Nigeria is set to stop the importation of crude oil by the Q3 of 2023. The Nigerian Minister of State for Petroleum Resources disclosed that some refining outfits are already being refurbished. And it is one of the world’s largest oil producers,yet it has failed to develop an oil refinery sector.
Fortunately, the Nigerian Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed that Nigeria is a year away from refining its own crude oil. This report is according to Reuters, which stated that the minister had made the announcement to reporters in Abuja on Tuesday. According to the report, the Minister revealed that the groundwork for refining crude oil in Nigeria is already being laid, as a refurbished refinery in the city of Port Harcourt Is set to deliver 60,000 barrels per day of refined crude by the end of December 2023.
Nigeria is one of the world’s largest oil producers, yet, has failed to develop an oil refinery sector.
Fortunately, the Nigerian Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed that Nigeria is a year away from refining its own crude oil.
He went furtherd to assure that in the worst case scenario, Nigeria expects to stop importing petroleum products somewhere around the third quarter of 2023. “We’re expecting that we will actually be exiting the importation of petroleum products from maybe about the third quarter next year if I was to give it a longer timeframe, but I believe that even before the third quarter next year,” the minister said.
