Kachikwu says oil majors to begin importation of fuel

The Nigeria National Petroleum Corporation (NNPC) says it is working in collaboration with the Central Bank of Nigeria (CBN) to help major oil marketers commence importation of petroleum products in the country.

Dr Ibe kachikwu, Minister of State for Petroleum, stated this at a monitoring tour of filling stations in Abuja on Saturday.

The NNPC is currently the sole importer and supplier of petrol in the country

Kachikwu said that the collaboration would focus on helping marketers to access forex to enable them import products into the country.

“We are working very collaboratively with the Central Bank now to try and look at long term solutions to the majors so that they can begin to go back and bring in their own products,” he said.

“Whilst majors are really not bringing in products, we are working on long term solutions so they now begin to go back to importation lanes and be able to service their own outlets,” he said

The minister, who said that NNPC servicing everybody brings a lot of wear and tear on its capability status, noted that it was currently the sole importer and supplier of petrol in the country.

He expressed hopes that the lingering scarcity and queues for petrol would ease off within two days.