Nigeria to Stop Importing Fuel by 2019

Nigeria to Stop Importing Fuel by 2019

Nigerian Minister of State for Petroleum Resources, Ibe Kachikwu, stated that the country will stop importing refined petroleum products by 2019, reported All Africa News.

Kachikwu explained that the Federal Government initiated a model, which attracted foreign investors to partner with the Nigeria National Petroleum Corporation (NNPC) in order to rehabilitate the Nigerian refineries within the two years period. Previously non-functioning refineries are expected to contribute with about 8m out of over 20m liters of petrol consumed in the country daily.

Additionally, the minister said that Nigeria must also have the capacity to stop exporting crude oil as due to “the pricing, volume, and market challenges” the oil producing countries are now shifting from selling crude to selling refined petroleum products, according to Vanguard Nigeria.

Sarah Samir 3413 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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