It’s Shameful Nigeria Imports Finished Petroleum Products – Kachikwu

Minister of Petroleum Resources, Emmanuel Ibe KachikwuMinister of Petroleum Resources, Emmanuel Ibe Kachikwu
  • It’s Shameful Nigeria Imports Finished Petroleum Products

The Minister of State for Petroleum Resources, Ibe Kachikwu, on Tuesday said it was shameful that the country had continued to import finished petroleum products.

According to him, the country has to stop importing the products, adding that the Federal Ministry of Petroleum Resources was committed to making this happen.

The minister disclosed this in several messages on his Twitter handle on Tuesday.

In one of the tweets on the state of the refineries, Kachikwu said, “It is shameful that we’ve continued to import finished products. We need to stop. We are committed to this.”

Nigeria imports a greater percentage of its finished petroleum products, as the country’s refineries have continued to perform below expectation.

Commenting further on the state of the refineries, Kachikwu confirmed there was no concession of the plants, adding, “We have a financing model that’ll still vest ownership in @NNPCgroup.

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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