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.
-
Latest4 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Business3 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Comments and Issues4 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Featured4 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business4 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Business2 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Latest4 days agoWike says Makinde’s presidential ambition dead on arrival
-
Featured4 days agoWike dismisses political speculation over meeting with APC Chairman Yilwatda