Refineries produce 22% of fuel consumption, says Kachikwu

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has said the nation’s refineries produce only 22 per cent of the daily national premium motor spirit (PMS) requirements.

The Minister who spoke yesterday in Abuja noted that the poor production from the refineries accounted for the huge cost of importation of petrol in 2016 approximated at N3.35trillion, adding that it is this reason that government wants private sector entrepreneurs to fix the refineries and make the country exit importation and subsidy payment by 2019.

FULL STORY – THE NATION

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