At the Rainoil 20th Anniversary Lecture organised by the company in Lagos on Wednesday, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu said with the proposed construction of modular refineries in the Niger Delta and more investments in the sector, the importation of refined products would be reduced to 60 per cent by 2018.

According to him, the country will start exporting refined products with the commencement of Dangote Refinery in 2019.

“The nation is at the turning point where the downstream industry is more critical than ever and will drive the economy. Currently, the NNPC imports over 95 per cent of petroleum products because of the challenges faced by marketers in accessing Foreign Exchange. After 20 years in this industry, I have seen the industry go through challenges but regardless of all that, we are optimistic that there are a lot of opportunities in the sector. By year 2020, the country would not import petroleum products.” he said.

Kachikwu said the country’s refining capacity for the first quarter of this year presently peaked at 10 million barrels of crude oil. This he noted was against eight million and 24 million barrels recorded for the entire years of 2015 and 2016 respectively.

more at : http://www.dailydigest.ng/nigeria-reduce-petrol-importation-60/

you mean Nigeria Imports Petroleum ...
Ah Dont Beliv It

Dis Country No Go Better Again

We can make it better.God help us

Edopesin:
you mean Nigeria Imports Petroleum ...

Ah Dont Beliv It


Dis Country No Go Better Again