Finally, NNPC reveals when Nigeria will stop importing petrol

• The NNPC has revealed that importation of petrol will stop immediately Dangote Refinery kicks off operations
• This was revealed by Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation
• According to him, now has a venture that would ensure the production of millions of litres of petrol in the country

Nigerians can start celebrating with their heads held high as Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) announced when the country will stop importation of Premium Motor Spirit (PMS).

He said this will happen when the Petroleum Industry Act (PIA) comes into full effect, and when the Dangote Refinery kicks off operations.

Speaking on the country's involvement in Dangote Refinery, the NNPC chief justified the federal government’s equity share in the plant.

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He said taking equity in Dangote Refinery was well thought out, saying the country now has a venture that would ensure the production of millions of litres of petrol in the country.

“Our decision to take equity in the Dangote Refinery was a very calculated and conscious decision. “Today, we import 100 per cent of our petroleum products into this country."

Customs to NNPC: Set up filling stations in neighbouring countries

Meanwhile, a message has been sent to the Nigerian National Petroleum Corporation (NNPC). The message was sent by Hameed Ali, the comptroller-general of customs.

Ali has asked the NNPC to set up filling stations in neighbouring countries. According to him, this will help tackle oil smuggling.

He disclosed this on Monday at an interactive session organised by the house of representatives committee on finance.

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FG says petrol price remains N162

In another news, the federal government, through the minister of state for petroleum resources, Timipre Sylva, has insisted that at the moment, the price of petrol per liter is N162.

According to Sylva on Tuesday, August 17, in Abuja, the government is in talks with labour unions on the need to and constitutionality of implementing full deregulation of the oil and gas sector.

The minister stated that until the deregulation of the sector is fixed and made to start running, the price of the product remains untouched.

However, the minister said it is not certain the actual time when the policy will be put into action

Source: Legit.ng