29 September 2015, Abuja – There has been a steady surge in fuel importation to Nigeria with more inflows expected from Europe in the months to come.
The country has four refineries which could reduce petroleum products importation by up to 50 per cent but the refineries have struggled to remain afloat and have been unable to churn out products in appreciable quantities since the Nigeria National Petroleum Corporation (NNPC) announced they were back.
For instance, the 37-year-old Warri refinery has remained shut since August due to some technical hitches in one of its units.
The NNPC Group Managing Director, Dr Ibe Kachikwu gave a 90 days ultimatum to the refineries to stream back to full active service or be sold.
There are plans to build new refineries because existing ones are close to 30-40 years old but for now, sources said, massive fuel imports will continue because the refineries are yet to hit optimal output and demands are beginning to rise.
- Daily Trust