Attributing the dormant state of refineries in Nigeria to the fuel subsidy regime, Kyari emphasized that the elimination of subsidies is attracting significant private sector investments. He assured that the Port Harcourt refinery will recommence operations by December 2023, followed by the Warri refinery in the early first quarter of 2024, and the Kaduna refinery will be operational by the end of 2024.

Kyari expressed confidence, stating, “I can confirm to you that by the end of December latest, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, Kaduna refinery will come into operation.

“This is the commitment we are giving today and you can hold us accountable on this; in 2024, many of the initiatives including the rehabilitation of our refineries and also the efforts of small scale refiners, and the upcoming startup of the Dangote refinery, will make Nigeria a next exporter of petroleum products in 2024.

“We will no longer be talking about fuel importation by the end of 2024, I am very optimistic that this will crystallise.”

He highlighted the NNPC’s commitment to transparency by making financial statements publicly available since 2018, and he projected an expected government revenue of N4.5 trillion from the company by the end of 2023, aligning with the Petroleum Industry Act.

Assuring the public, Kyari stated that there will be no fuel scarcity during the Christmas season and beyond, emphasizing the NNPC’s robust supply plan that prevents any entity from holding the country hostage.