Hot Gist: FG To Stop Importation Of Petrol By 2023

The Federal Government has set a 2023 deadline to stop the importation of petrol into the country.

Nigeria, an oil-producing country has been heavily dependent on the importation of petroleum products since its four major oil refineries have been under-utilized.

According to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, while signing the Condensate refinery strategy programme Front End Engineering Design, the strategy is expected to deliver 20 million litres of Petrol when it’s completed.

Mr Kyari explained that President Muhammadu Buhari is concerned that as an oil-producing country, Nigeria is one of the highest importers of petrol in the world.

In 2017, the Federal Government planned to stop the importation of fuel by 2019 with the approval of a new National Oil Policy by the Federal Executive Council.