Why Nigeria Will Continue To Import Petrol Beyond 2016 – Minister

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Ibe Kachikwu, the minister of state for petroleum has said that Nigeria will continue to import fuel in 2016 and beyond until the country can be able to provide enough fuel to sustain the demand of the people.

Premium Times reports that the minister said this on Sunday, December 27 after a tour of the Kaduna refining and petrochemicals company.

He said: “The future is that, Nigeria is still going to import fuel in 2016 and beyond.

“Until we begin to get individuals who can co-relocate, we are going to be doing a mixture of local and importation of fuel to meet up demands.

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“Best case situation is 25% local and 75% importation. Worse case is what we are experiencing now.

“In the next few weeks, however, queues will disappear in fuel stations.”

He said the refinery will soon reach 2 million litres per day capacity as soon as an FCC unit is fully on stream.

“We need to get it back to re-kit it to work well. We will do that with some level of production going on.

“Our concern is to have a consistent production and provision of products at all times.”

He said President Muhammadu Buhari had not approved any policy concerning the sale of the refineries and said the issue of subsidy would be examined in January, 2016.

“We will not be fluctuating prices, we will take an average. Today no subsidy, in January we will look at the situation and announce it.”

On privatization, he said “President Muhammadu Buhari has not approved any policy about selling the refineries.”

Meanwhile, It was reported tha

The post Why Nigeria Will Continue To Import Petrol Beyond 2016 – Minister appeared first on Nigeria News today & Breaking news | Read on NAIJ.COM.

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