Business News

All issues of fuel scarcity to end in 10 years – NNPCL  

The Nigerian National Petroleum Company Limited (NNPCL) said that within the next ten years, the energy shortages plaguing the nation will be resolved. 

Mele Kyari, the Group Chief Executive Officer of NNPCL, revealed this information during the opening ceremony of the seventh Nigerian International Energy Summit in Abuja on Tuesday. 

Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL, issued a statement assuring stakeholders of the company’s dedication to collaborating with them to address the energy deficit and foster prosperity for Nigerians. 

As the largest partner to all the oil producing companies in Nigeria, NNPCL also assured stakeholders on investment in critical infrastructural projects to drive growth in the energy sector.  

According to Kyari, the Obiafu-Obrikom-Oben Pipeline is approaching completion, with ongoing tunneling operations across the River Niger. 

He further noted that NNPC Ltd., by its foundational mandate to safeguard national energy security, aims to ensure that the divested assets are managed to yield sustainable and high levels of production, thereby providing energy security for the good of Nigerians. 

Despite the removal of fuel subsidy in May 2023, Nigeria still grapples with intermittent shortage of fuel at the retail level.