The Nigerian National Petroleum Corporation (NNPC) says it will reduce petroleum products importation by boosting the capacity utilisation of local refineries to 60 per cent by the end of 2017.
The NNPC Group Managing Director, Dr Maikanti Baru, made this known in a statement on Sunday.
Baru expressed confidence that the NNPC would end product importation in a few years.
“We are putting together various programmes to ensure that we achieve at least 60 per cent local refining by the end of this year.
“It is the procedure or methodology that we are changing a little bit.
“We are focusing on the process licensors to come and audit our processes and they have already started auditing most of our process units in the various refineries.
“We hope if we do all these systematically, we should achieve 60 per cent capacity utilisation this year or first quarter of 2018 and get to 80 per cent by the end of 2018.”
He further said this would result in the ability of Nigeria to locally supply half of the Premium Motor Spirit required in the country.
“With other efforts in terms of other refineries coming in place, we should be able to quit importation in a few years,” Baru added.