Energy
Nigeria spends $25 billion on petrol importation yearly – VP Shettima
Kashim Shettima has revealed that Nigeria spends $25 billion per annum on the importation of petroleum products.
He said this while speaking at an event in Victoria Island, Lagos on Thursday, May 23. According to him, “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.” 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. Rest assured, ladies and gentlemen, that the next few years will be full of positive achievements.
-
Football6 days agoFrance confirms U-20 Women’s World Cup participation amid FIFA-UEFA rift
-
Business6 days agoNigeria’s external debt service falls 31.5% to $954m in Q1 2026
-
Football4 days agoWAFCON 2026: Super Falcons battle South Africa for World Cup play-off spot
-
Latest5 days agoMessi reportedly faced multiple bomb threats during 2026 World Cup
-
Latest4 days agoOsun 2026: Oyinlola group backs Oyebamiji, faults Adeleke over exclusion
-
Business1 day agoBigi, Fearless take campus engagement to new level, reach 20 tertiary institutions
-
Featured5 days agoOsun Governorship Election: Adeleke faces tough test as APC, ADC mount challenge
-
Latest5 days agoNFF denies calling for Infantino’s resignation