FG To Make NNPC Sole Distributor Of Petroleum Products

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The Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, has disclosed that the Federal Government was doing everything possible to make sure only the Nigerian National Petroleum Corporation, NNPC, imports petroleum products into the country.

CBN Governor

Emefiele said President Muhammadu Buhari has directed the NNPC to cut down on importation by reactivating the four refineries and ensuring they function at installed capacities.

The CBN Governor stated this in an interview with Financial Times of London.

Emefiele said: “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.

“So, in that area, I would say that we are already moving in the direction of reducing the import of petroleum products. And we will achieve it.”



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1 comment

  1. It’s a bit late now to order that the refineries be reactivated… since that process was already set in motion a long time ago (specifically by the previous administration). But in any case I will always agree with any move to stop Nigerians from getting gouged at the pump.

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