The Minister of State for Budget and National Planning, Zainab Ahmed on Wednesday revealed that the Federal Government has set a three year deadline to end importation of petroleum product.
Speaking with newsmen in Abuja, Ahmed said the objective of the three-year deadline is to ensure self-sufficiency, making available refined petroleum products, reduce demand on foreign exchange as well as export refined fuel.
Ahmed said, ”We are setting a three-year deadline to achieve self-sufficiency in refined petroleum products and to become a net exporter of petroleum products.
“The objective of this is to increase domestic supply of refined products and to reduce demand on foreign exchange for importing refined products in our country. The ministry of petroleum is pushing this. There is also a plan to push for the passage of the petroleum industry Bill (PIB) in conjunction with the national assembly.”
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