President Bola Ahmed Tinubu has announced a major push towards self-sufficiency of Nigeria in petroleum products in the year 2024, through its quest to restart local refining of the products with Port Harcourt Refinery, and the Dangote Refinery.
The President says come early year 2024 the refineries will fully come on stream.
He made the announcement during his new year message to Nigerians on January 1st, 2024.
The Nigerian Leader also stated that the federal government is now poised to accelerate the pace of service delivery across sectors having laid the groundwork for Nigeria’s economic recovery plans in the last seven months.
He reaffirmed his commitment to a new power deal to increase the delivery of the Siemens Energy Power project that he said would deliver reliable supply of electricity to Nigerian homes and businesses under the Presidential Power Initiative which began in 2018.
The President added that other power installation projects that would strengthen the reliability of transmission lines and optimise the National grid are on-going across the country
“Having laid the groundwork of our economic recovery plans within the last seven months of 2023, we are now poised to accelerate the pace of our service delivery across sectors.
“Just this past December during COP28 in Dubai, the German Chancellor, Olaf Scholz, and I agreed and committed to a new deal to speed up the delivery of the Siemens Energy power project that will ultimately deliver reliable supply of electricity to our homes and businesses under the Presidential Power Initiative which began in 2018.
“My administration recognises that no meaningful economic transformation can happen without steady electricity supply. In 2024, we are moving a step further in our quest to restart local refining of petroleum products with Port Harcourt Refinery, and the Dangote Refinery which shall fully come on stream.” The President added.