The Federal Government has expressed readiness
to scale down the importation of refined petroleum
products following the anticipated bridging of
demand gap in local consumption with the
commencement of production in Warri refinery and
the Kaduna facility due to follow shortly.
The Central Bank of Nigeria governor, Mr. Godwin
Emefiele dropped this hint during a briefing at the
bank’s headquarters shortly after the July
Monetary Policy Meeting in Abuja on Friday.
He noted that the resuscitation of the two
refineries followed series of meetings between the
apex bank, the management of the Nigerian
National Petroleum Corporation, NNPC, and the
Federal Government.
The central bank governor maintained that the
combined capacities of the two firms would likely
reduce the estimated 30 million litres of refined
products currently being imported into the
country.
He noted that the resumption of production by
the refineries would reduce the pressure on both
government expenditure and also help the CBN
strengthen reserves and build the much needed
fiscal buffers.
“We have met with NNPC and Warri Refinery has
begun producing fuel. Kaduna will soon begin
production and so we are going to see a drastic
reduction in the import of premium motor spirit,”
he stated.
Noting that CBN’s mandate was to build reserve,
achieve strong exchange rate and maintain
stability, Emefiele said the MPC in taking its
decisions was guided by the need to stimulate
growth and development in the economy, pointing
out that though some of such decisions may be
tough on some stakeholders, they are always
taken in the best interest of the economy and the
citizens.
He also restated the need for Nigerians to cut
some of excesses to ensure the revival of the
economy.
http://dailypost.ng/2015/07/27/federal-government-reduces-oil-imports-as-production-begins-in-warri-kaduna-refineries/

let's save that FOREX

All hail GEJ.

The quiet performer...

The defender of our democracy...

Your good works live on. Make this illiterate man no spoil am...

The two groups from UMBRELLA EVIL CORP,( the Wailers and Children of hate)will still get saddened by this Goodnews.

GEJ still working. God bless you sir for a job well done

Great news.

God bless GEJ for making dis fruitful and also guide GMB as he takes us on in his own ride,,,,Amen

Slow and Steady wins the race. Buhari is darn working.

..

Gej koor,jack ni...all those refineries were in place but because of the money wey dem wan chop,they refuse to make dem work.
baba go slow,pls continue to take us slowly to where some people never wished we get to.

Baba is working, God bless President Muhammadu Buhari

Better for the Economy, give credits to no POLITICAL Party, a functioning refinery for a country like Nigeria is your birthright.

.

More good news

MabraO:
Barcanista come nd defend ur useless self here
Where u not running ur mouth like a broken pipe that d refineries ll never function this year that all were mere propaganda nd lie

Don't mind him. his next line of defence will be to credit it to GEJ

dustmalik:

Don't mind him. his next line of defence will be to credit it to GEJ

Don't mind the nitwit

MabraO:
Barcanista come nd defend ur useless self here
Where u not running ur mouth like a broken pipe that d refineries ll never function this year that all were mere propaganda nd lie

What is the capacity of the refineries at present?

League of Extraordinary Wailing Wailers, food is ready.

Great

Sai Buhari - weapon of change

Keneking:
Great

Sai Buhari - weapon of change

http://www.nannewsnigeria.com/nation’s-refineries-operate-optimal-capacity-2016-nnpc
Guess your Baba was in power last October! lol

God bless GEJ anywhere he is. Our refineries are working our rail PH-KANO also working. Even Daura President once said he cannot take credit for revamp of the refinery.
GOD BLESS GEJ
Proudly Wailer

Even buhari is smart enough not to claim credits for the refineries.

Let me place this one here... https://m.facebook.com/story.php?story_fbid=1132635790097980&id=100000547102453...

MabraO:


Silly question
Is d refineries working or not?

INTROVERT:
let's save that FOREX

MabraO:


Silly question
Is d refineries working or not?

http://www.nannewsnigeria.com/nation’s-refineries-operate-optimal-capacity-2016-nnpc

eddiebruk:
Better for the Economy, give credits to no POLITICAL Party, a functioning refinery for a country like Nigeria is your birthright.

Nice one bro! Its a pity that only few Nigerians think like u