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Nigeria To Rely On 75% Imported Petrol In 2016 – Kachikwu

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Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) and Minister of State for Petroleum, Ibe Kachikwu on Sunday, December 27, 2015 availed that the country will still rely on 75% importation of fuel throughout the whole of next year.

Speaking during a tour of Kaduna Refinery and Petrochemical Company (KRPC), Kachikwu said: “the future is that, Nigeria is still going to import fuel in 2016 and beyond. Best case situation is 25 per cent local and 75 per cent importation. Worse case is what we are experiencing now.

“Until we begin to get individuals who can co-relocate, we are going to be doing a mixture of local and importation of fuel to meet up demands. In the next few weeks, however, queues will disappear in fuel stations.

He said: “We need to get it back to re-kit it to work well. We will do that with some level of production going on. Our concern is to have a consistent production and provision of products at all times.”

On subsidy and pricing, Kachikwu said: “We will not be fluctuating prices, we will take an average. Today no subsidy, in January we will look at the situation and announce it.”

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