Petroleum import to reduce by 60% in 2018– Kachikwu

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Dr Ibe Kachikwu, Minister of State for Petroleum

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has reiterated Federal Government’s resolve to reduce importation of petroleum products from the present 95 per cent to 60 per cent by 2018.

Kachikwu stated this at the Rainoil 20th Anniversary Lecture organised by the company in Lagos on Wednesday.

The theme of the anniversary was: “The Nigerian Oil and Gas Industry: Opportunities, Challenges and Prospects of the Downstream Sector”.

The minister of state said that with the proposed construction of modular refineries in the Niger Delta and more investments in the sector, the importation of refined products would be reduced to 60 per cent by 2018.

According to him, the country will start exporting refined products with the commencement of Dangote Refinery in 2019.

“The nation is at the turning point where the…

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