The Minister of State for Petroleum Resources, Ibe Kachikwu, on Thursday, said that there was no going back on the target set by the country to achieve self-sufficiency in refined petroleum products.
According to him, revamping the nation’s ailing refineries to 90 per cent capacity utilisation, will be actualised by the end of the first quarter of 2018.
Mr Kachikwu who spoke at a press conference ahead of the Nigeria International Petroleum Summit, NIPS, organised to woo investment into the oil and gas sector.
The state minister said plans were upbeat on the 2019 target to ensure petroleum sufficiency in the country as well as overhaul the country’s ageing refineries.
Mr Kachikwu blamed the persisting fuel shortage on logistic and policies, saying that the NNPC would work round the clock to ensure the queues clear before the summit starts next week.
He said results of commitments in the areas of refurbishing the nation’s refineries would become realistic towards the end of the first quarter of 2018, as financials were underway to turn the refineries around.
