Shettima: $25bn Spent On Fuel Importation Every Year - Politics

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Shettima: $25bn Spent On Fuel Importation Every Year - Politics - Nairaland

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Shettima: $25bn Spent On Fuel Importation Every Year by ijustdey: 5:02pm On May 24

Vice-President Kashim Shettima says over $25 billion is used to import petroleum products into the country every year.

Shettima spoke on Thursday at the Vanguard Economic Discourse themed ‘Reforms in the Era of Global Economic Uncertainties: Whither Nigeria’.

The vice-president, who was represented by Tope Fasua, special adviser on economic affairs, assured that this would change in the future.

The development comes five days after Aliko Dangote, Africa’s richest person, said Nigeria will no longer need to import petrol by June.

Speaking at the event, Shettima said the country will stop importing the product due to the backing of the government and the revamping of state-owned refineries.

“With the support our government is lending to our private sector-led oil refineries and rejuvenation of some of the state-owned facilities. The $25 billion we spend yearly importing petroleum and other refined products will soon be a thing of the past allowing the naira a much-deserved breath,” he said.

Shettima said the country will not hesitate to backtrack and review policies if it would impose undue hardship on Nigerians as it “has been seen over time”.

“So this administration is not out to make the life of Nigerians tougher, but to make the Nigerian economy sustainable, and the lives of our people more enjoyable,” Shettima said.

“Rest assured, ladies and gentlemen, that the next few years will be full of positive achievements. They include improvements in the standards of living, higher productivity, food security, bumper harvests and remarkable achievement with the guidance and grace of Almighty God.”

Speaking further, he said President Bola Tinubu has been able to secure more than $20 billion in potential investments into the country, “including $14 billion from India, $250 million from the Netherlands, and commitments of $500 million for lithium development in Nasarawa state”.

Shettima said the country has secured another $500 million from Germany into renewables, adding that the Siemens power sector projects will positively impact energy sufficiency in due course.

https://www.thecable.ng/shettima-25bn-spent-on-fuel-importation-every-year/amp/

9 Likes 2 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by immortalcrown(m): 5:02pm On May 24

Nothing is unbelievable about Nigeria.

So, when will your regime make fuel price 87 Naira per litre?

ijustdey:
“So this administration is not out to make the life of Nigerians tougher, but to make the Nigerian economy sustainable, and the lives of our people more enjoyable,” Shettima said.

Super story.

27 Likes 2 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by muyico(m): 5:04pm On May 24

dangote importing crude oil nko? were running in same circle

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Re: Shettima: $25bn Spent On Fuel Importation Every Year by Esama: 5:17pm On May 24

The other day I said its politicians that keep spoiling the naira with their poorly economy policies. When you exchanged your naira to dollar with over billions dollars yet is not ending there what about cars and politicians foods most of this politicians don't eat local foods .

You built refineries yet is not working even the dangote still built his own with aims of shunning importing crude oil.

9 Likes 2 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Ance4Liverpool: 5:17pm On May 24

My question is why cant we have refinary in nigeria?

14 Likes

Re: Shettima: $25bn Spent On Fuel Importation Every Year by PlasmaTV: 5:55pm On May 24

Mtchewwwww!!!
But it's binance that's making dollar gain over naira. Illiterates.

Just one year of governance and it's clear that these guys have absolutely nothing to offer. Nothing. Zero. Zilch. Nada.

Even Buhari, as clueless as he was, wasn't this clueless/hopeless.

38 Likes 3 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by NaijaSumigan: 7:35pm On May 24

The money will then be diverted and stolen by same crooks called politicians.

Politics in Nigeria is now full time business. Despite all they keep stealing, the end of it is they eventually die like chickens and forgotten forever.

Old men without brain jostling for power at their useless old age. The terrible aspect is they loot the Nation dry.

Nigerian politicians, you will people will keep dying untimely. Thieves!

8 Likes 2 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by NzogbuNzogbu: 7:35pm On May 24

This shettima is a very clueless man in this regime

Shebi helinus said govt have no hand in dangote "private business" and his decision of still importing fuel

How come tinubu now have hand in supporting private oil businesses without holding them to concession

11 Likes 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Iamgrey5(m): 7:35pm On May 24

Nigeria is full of clowns.

Our whole country is a circus.

Yet, the federal government refuse to sell crude to Dangote to refine locally

The man has to get crude in America for cheaper price.

41 Likes 3 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by udemzyudex(m): 7:36pm On May 24

Some people are benefiting from this that's why they've vowed not to make any refinery work in Nigeria.

5 Likes 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Skillsnigeria: 7:36pm On May 24

Okay

Re: Shettima: $25bn Spent On Fuel Importation Every Year by HateBigots: 7:36pm On May 24

Re: Shettima: $25bn Spent On Fuel Importation Every Year by GreenxGreen: 7:38pm On May 24

We have to check the Name of Nigeria again to make sure that we are still in Nigeria or the country is still called Nigeria............. You never know 😂😉😁😉
This APC government can't be trusted 😡😡😡

Apart from Hardship don't believe anything from this government !

4 Likes 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by ironheart(m): 7:39pm On May 24

Its crazy when a minister doesn't know that Dangote is importing crude in an oil producing country. Imagine Kuwait importing crude oil

5 Likes 2 Shares

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Xox1945(m): 7:39pm On May 24

Thieves 🤧

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Re: Shettima: $25bn Spent On Fuel Importation Every Year by Antoeni(m): 7:40pm On May 24

How Much to Repair or Build a New Refinery

4 Likes

Re: Shettima: $25bn Spent On Fuel Importation Every Year by DumiChills: 7:40pm On May 24

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Matheusmartin: 7:41pm On May 24

Re: Shettima: $25bn Spent On Fuel Importation Every Year by fitinwell: 7:42pm On May 24

ijustdey:

https://www.thecable.ng/shettima-25bn-spent-on-fuel-importation-every-year/amp/

Yet FGN Taxes , Union dues and Independent Markerters still make Nigerians pay through their Sweats, yet PMS still won't be available..

Suffering no dey tire Nigerians

1 Like 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Racoon(m): 7:43pm On May 24

How did you arrived @ that Mr Shettima? Why are the refineries not working especially the PH own despite the heavy TAM on it? Looted of course.

The NNPC or Dept of Petroleum Resources( DPR) can't even provide an accurate data on daily fuel consumption in Nigeria yet the fuel subsidy corruption is still ongoing.

6 Likes

Re: Shettima: $25bn Spent On Fuel Importation Every Year by koyeni(m): 7:44pm On May 24

Ance4Liverpool:
My question is why cant we have refinary in nigeria?

Same question i ask myself every now and then. The cost of building two solid refineries shouldn't be up to $50b. We know how much our top guys loot daily

1 Like

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Treadway: 7:46pm On May 24

Lol

This shiiiit-faced fuuuuckkker just comfortably used the term 'potential investments'🤣🤣🤣

Omo na to dey use this term at AGM, management meetings, and shareholder meetings o. Tell the boss(es) every month for a whole year about 'potential sales'. Tell them every month from January to December that even though you have not sold anything, you have potential sales that will swallow/fulfill your annual target/budget.

Promotion sure pa based on this coon's logic

Awon asinwin!

3 Likes

Re: Shettima: $25bn Spent On Fuel Importation Every Year by shedy03(m): 7:47pm On May 24

Does the government give the fuel free to Nigerians?
Shebi Nigerians pay for the fuel.
FG that is not aware dangote import crude from America

3 Likes 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by themanderon: 7:47pm On May 24

The way we bandy figures this huge gives the criminals in power more impetus to steal. I can bet you more than half that amount ends up in the hands of politicians. 25billion dollars indeed.

1 Like 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Inspirer1: 7:49pm On May 24

No be today

Re: Shettima: $25bn Spent On Fuel Importation Every Year by Jokerman(m): 7:49pm On May 24

What about Dangote Refinery that Parosident Buhari inaugurated?

1 Like 1 Share

Re: Shettima: $25bn Spent On Fuel Importation Every Year by StraightGaay: 7:49pm On May 24

Ance4Liverpool:
My question is why cant we have refinary in nigeria?

Is Dangote Refinery a joke to you?

Re: Shettima: $25bn Spent On Fuel Importation Every Year by free2ryhme: 7:51pm On May 24

ijustdey:

https://www.thecable.ng/shettima-25bn-spent-on-fuel-importation-every-year/amp/

Nigerians buy at N600 and above, and not free so shut up

1 Like

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