PETROL IMPORT WILL END WITHIN NEXT 18 MONTHS, PRESIDENCY MAKES NEW PLEDGE

The presidency says it is working on a programme to end Nigeria’s importation of petroleum products within the next 18 months.

Petroleum resources minister of state, Ibe kachikwu, who announced this at a news conference in Abuja on the final phase of restructuring the Nigerian national petroleum corporation (NNPC), said the continued dependence of Nigeria on imported petroleum products was shameful.

Under the plan, the minister said $500 million would be spent on getting the four refineries in Port hacourt, Warri and Kaduna back to full capacity.

The minister said the plan is part of discussions with new joint venture partners to build new refineries along the existing four refineries in the country.

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