Amid the incessant fuel scarcity in the country, the CBN governor has disclosed that the NNPC is making plans to improve the supply of fuel by revamping the local refineries.
The Governor of the Central Bank of Nigeria CBN has briefed an international news magazine that the Nigerian National Petroleum Corporation NNPC will soon end fuel importation.
Mr. Godwin Emefiele, the CBN governor, said that the NNPC is making plans to produce enough fuel here in Nigeria for domestic use. With this, there will be no need to import fuel from abroad.
He claimed that when the refineries in Nigeria starts producing in full capacity, there will be no longer be need for fuel importation. Godwin Emefiele, the central bank governor told the international news magazine that;
The President came on board and said that we will work very hard to reduce importation of petroleum products by ensuring that our refineries work. Our refineries are working now.
The Warri and Port Harcourt refineries have started producing. They have not obtained the optimal capacity but they will. The Kaduna refinery will start working this month.
Now, there are other actions that the Presidency is putting in place to ensure that we reduce importation of petroleum products where the NNPC will solely, almost solely be responsible for procuring refined petroleum.
Those who are importing petroleum products will only just need to go to the NNPC and pick up petroleum products.
If this plan materializes, it will bring an end to the incessant fuel scarcity experienced in the country. The Governor of the Central Bank of Nigeria CBN also pointed out that a reduction in fuel importation will help the countries currency in the international market. He equally claimed that it will bring the blackmail and highhandedness of the oil marketers to an end.