NNPC- 75% of fuel in Nigeria will still be imported in 2016

Group Managing Director NNPC and Minister of
State for Petroleum, Dr. Ibe Kachikwu, during his
tour of Kaduna Refinery and Petrochemical
Company, KRPC, yesterday, said the country will
still rely on 75 per cent importation of fuel
throughout the whole of next year.
According to him:
"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."
The minister said that the Kaduna refinery will
soon be producing more than two million litres
per day capacity as soon as an Fluid Catalytic
Cracking, FCC, unit is fully on stream.
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."
"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."
In regards to privatization, he said:
"President Muhammadu Buhari has not
approved any policy about selling the
refineries."