Warri and Kaduna refineries back up

chika ebuzor

July 27, 2015 4:57 AM

The renovation of the two refineries is as a result of a series of discussions between CBN, Nigerian National Petroleum Corporation (NNPC) and the Federal Government.

This news will be a source of Joy to all Nigerians who have wondered why a country that has crude oil should keep importing fuel.

Well, importation of fuel, will soon be a thing of the past.

Read Apex bank cancels Foreign Exchange accessibility for rice, cement importers

News reaching Pulse says that the Federal Government plans to reduce fuel importation because the Warri and Kaduna refineries will be functioning at full capacity.

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele gave a hint, at the July Monetary Policy Meeting, held at the CBN headquarters in Abuja.

He added that the renovation of the two refineries is as a result of a series of discussions between CBN, Nigerian National Petroleum Corporation (NNPC) and the Federal Government.

Emefiele said “We have met with NNPC and Warri Refinery has begun producing fuel. Kaduna will soon begin production and so we are going to see a drastic reduction in the import of premium motor spirit.”

Adding that it will reduce the expenditure of Government.

Read Apex bank to generate N150.6bn with treasury bills sale

chika ebuzor