Nigeria to import petrol beyond 2016 – Kachikwu

Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu

The Minister of State for Petroleum, Ibe Kachikwu, on Sunday, said Nigeria will continue to import fuel beyond 2016.

Speaking at a Press Conference with journalists shortly after a tour of the Kaduna Refining and Petrochemicals Company, the Minister 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.

“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 stated.

The Minister said Kaduna Refinery will soon attain 2 million litres per day capacity as soon as an FCC unit is fully on stream.

Okowa Campaign AD

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

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

On subsidy and pricing, Mr. Kachikwu said “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.”

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.