“Nigeria still relies on fuel imports” – Tinubu’s minister confesses
Senator Heineken Lokpobiri, minister of state for petroleum resources (oil), has revealed that Nigeria still relies on imported petroleum products despite improvements in local refining capacity.
Lokpobiri spoke on the state of the downstream sector at the CERAWeek by S&P Global conference in Houston, Texas.
The minister said domestic refining capacity has improved significantly in recent years, adding thag local production is still insufficient to fully meet national consumption.
Lokpobiri said imports remain a key component of Nigeria’s fuel supply, saying: “We are not yet at a point where local production alone can satisfy total consumption.”
He said Nigeria is making measurable progress as domestic refining contributes an increasing share of the country’s fuel supply.
Lokpobiri added that fuel imports will remain necessary while local refining capacity continues to expand.
