Nigeria will import 75 per cent of the petrol it will consume in 2016.
This was disclosed on Sunday by the Group Managing Director of the Nigerian National Petroleum Corporation and Minister of State for Petroleum, Dr. Ibe Kachikwu.
Kachikwu spoke during his tour of Kaduna Refinery and Petrochemical Company, KRPC.
He 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.”
Speaking on his visit to the KRPC, Kachikwu said the refinery will soon be producing more than two million litres of petrol per day.
He said this will be achieved as soon as a Fluid Catalytic Cracking 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.”
On the issue of 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.”
On if the country’s four refineries would be privatised, Kachikwu said: “President Muhammadu Buhari has not approved any policy about selling the refineries.”
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