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Nigeria will export refined petroleum in 2019 :Kachikwu

By The Rainbow
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The Minister of State for Petroleum and Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, in far away Beijing, China on Monday gave assurance that the country will export refined petroleum in the next three years.

The assurance came in an exclusive interview with Daily Sun after he addressed the business community and investors in the oil and gas sector in the city.

Kachikwu is in Beijing for the NNPC Roadshow for Investors in Nigeria's oil and gas sector on Monday where he also hinted that the mission he embarked upon with Executive Directors of the NNPC was already a huge success.

He assured that the responses he has got from the Chinese investors were signs that the mission was a fruitful venture as he was certain that after signing an MoU for investment for about $8 billion and some others lined up for the week, the deals waiting to be executed would not be less than $40 billion with Chinese investors.

In an interactive with Daily Sun after his address to the Forum, he clarified that “although MoU was just an indication of interest and starting point, it is the first and most vital step in the commencement of a venture. We have got positive responses and going by what is on ground, there is no going back on the commitments.

China has over time proven its readiness to do business in Nigeria and that is why we started from here after which we will go to India and the Gulf Region. India had in the past been good partners in our oil business, but going there now might not be for investment. We know India has one of the best and most modern oil refineries in the world, so we would go to tap into their intelligence on how to get it right in refining.

“But in China it is the capital to invest and we are not unaware of this, which is the reason we started here and the enthusiasm has been great.

“Right now, even at short notice, the partners are working so hard to ensure I meet President Xi Jinping this week.”

He also clarified that the visit is part of the implementation and follow-up to the visit of President Muhammadu Buhari two months ago.

-Emmanuel Ikechukwu

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