Nigeria to stop importing fuel by 2019 – FG

The State Minister for Petroleum Resources, Ibe Kachikwu, has said the federal government plans to stop importing refined petroleum products into the country by 2019.

He said the foreign investors had signed a deal with the Nigerian National Petroleum Corporation, NNPC, to repair refineries within two years. He said the refineries would produce about eight million litres, about 40 percent of daily consumption.

Kachikwu also stated that business mogul, Aliko Dangote, had begun constructing one refinery.

Speaking on the issue of subsidising fuel pump price, he said the current price was a result of market forces.