Nigeria Only Oil Producing Country Struggling With Importation of Refined Products – Kachikwu

30 Jun 2017   Nigeria

Minister of State for Petroleum Resources, Ibe Kachikwu Wednesday stated that the present oil that has remained the main stay of the nation’s economy may not last beyond 39 years. The Minister also lamented that Nigeria remained the only oil producing country still struggling with the importation of refined petroleum products. Speaking at the 5th Triennial National Delegates Conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN in Abuja Kachukwu described as embarrassing the country’s inability to refine oil in the country. Predicting the future of oil in the country, he said the nation’s future lies in the area of gas, saying at best, the nation’s oil reserve will last for another 25 to 39 years, while the nation’s gas reserve will last for over 60 years. According to him, “For me, the whole idea of continuing importation of petroleum products in this country is […]

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