{"id":152812,"date":"2025-02-25T23:33:40","date_gmt":"2025-02-25T22:33:40","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari"},"modified":"2025-02-27T22:56:53","modified_gmt":"2025-02-27T21:56:53","slug":"petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari","title":{"rendered":"Petrol: Why investors are returning to Nigeria \u2014NNPCL GMD, Kyari"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, has said that investors are returning to Nigeria because they are getting their return on investment in the country\u2019s oil and gas sector.<\/p>\n<p>Mele disclosed this in his remarks at the opening ceremony at this year\u2019s Nigeria International Energy Summit in Abuja.<\/p>\n<p>He emphasised that the implementation of the Petroleum Industry Act and executive orders by President Bola Tinubu\u2019s administration has made Nigeria an investment designation in the oil and gas sector.<\/p>\n<p>According to him, investments are not corporate social responsibility (CSR), rather than a profit enterprise in which investors in Nigeria are getting their returns.<\/p>\n<p>He also assured that NNPCL would continue to guarantee energy security and would not hesitate to close the gap whenever the need arises in line with the mandate of the PIA.<\/p>\n<p>\u201cInvestors are not CSR. There is no shame in saying this. Investors have seen that when they put their money in the country, in our businesses, particularly the oil and gas sector, they can get back their money.<\/p>\n<p>\u201cThat is why you investors are returning to the country. All these will have no meaning to ordinary Nigerians if you do not guarantee energy security. The PIA has said one thing: that the NNPCL is required by law to ensure energy security in the country.<\/p>\n<p>\u201cDelivering automobile fuel of any sort, CNG or PMS, to close that space. Stabilise the market and fill any gap. There are a lot of open conversions out there.<\/p>\n<p>\u201cWe are required by law to fill this gap. Whenever it is necessary, we take every step to ensure energy security for our country.<\/p>\n<p>\u201cThat comes at a cost. Reputation cost. One viral video out there that took two small generators and claimed NNPC lasted for 15 minutes and the other 30 minutes. This is a joke. This is taking competition too far. The market will stabilise itself,\u201d Kyari stated.<\/p>\n<p>Recall that in the last week, the subject of continued fuel imports inspite of domestic capacity at local refineries such Dangote Refinery has been a subject of debate.<\/p>\n<p>Meanwhile, the Midstream and Downstream Petroleum Regulatory Authority has insisted that local refineries has only met 50 percent of petrol product demands.<\/p>\n<p>However, Aliko Dangote, the President of Dangote Refinery, has said his refinery can meet Nigeria\u2019s petrol demand.<\/p>\n<p>Earlier, NNPCL has denied importing petrol in 2025, contrary to reports suggesting the state-owned firm imported 200,000 million litres of PMS in February alone.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, has said that investors are returning to Nigeria because they are getting their return on investment in the country\u2019s oil and gas sector. Mele disclosed this in his remarks at the opening ceremony at this year\u2019s Nigeria International Energy [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":152811,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1127,254,9636,2000],"class_list":["post-152812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-kyari","tag-nigeria","tag-nnpcl","tag-petrol"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Petrol: Why investors are returning to Nigeria \u2014NNPCL GMD, Kyari - Nigeria<\/title>\n<meta name=\"description\" content=\"The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, has said that investors ar ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petrol: Why investors are returning to Nigeria \u2014NNPCL GMD, Kyari\" \/>\n<meta property=\"og:description\" content=\"The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, has said that investors ar ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-25T22:33:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T21:56:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1740514020.634838.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Petrol: Why investors are returning to Nigeria \u2014NNPCL GMD, Kyari\",\"datePublished\":\"2025-02-25T22:33:40+00:00\",\"dateModified\":\"2025-02-27T21:56:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\"},\"wordCount\":435,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/02\/sm_1740514020.634838.jpg\",\"keywords\":[\"Kyari\",\"Nigeria\",\"NNPCL\",\"petrol\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/petrol-why-investors-are-returning-to-nigeria-nnpcl-gmd-kyari\",\"name\":\"Petrol: Why investors are returning to Nigeria \u2014NNPCL GMD, Kyari - 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