The Nigerian National Petroleum Corporation (NNPC) has disclosed the existence of almost $3.097 billion investment opportunities in Nigeria’s condensate refineries’ space.
This is as the corporation has pointed out that it requires between $1.6 billion and $2.7 billion to improve the supply and distribution of petroleum products, revamp Liquefied Petroleum Gas (LPG) infrastructure and build Compressed Natural Gas (CNG) plants in the country.
This disclosure was made by the Group Managing Director of NNPC, Mallam Mele Kyari, while delivering his keynote address at the 15th Oil Trading and Logistics (OTL) Africa Downstream Week themed, “Downstream in Transition: Getting Set”, on Tuesday in Lagos, according to ThisDay.
Kyari, who was represented at the event by the Group Executive Director, Downstream, NNPC, Mr. Adetunji Adeyemi, projected that Nigeria’s petroleum product demand would increase from 15.1 million MT in 2020 to 17.3 million metric tons by 2025.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate