The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has described the continued importation of refined petroleum products into Nigeria, one of the topmost oil producing countries in the world as shameful.
The petroleum resources boss made this known at the ongoing Oil and Gas Conference in Abuja even as he reiterate the need for the the Nigerian government to intensify her efforts in ensuring that the country attain self-sufficiency in petroleum product petroleum products refining.
In his words: “Nigeria still remains the only country with the resources that we have, that has continued to import petroleum products. It is a shame on this country, it is a fraud on the system and we have got to end it.”
“Over the next four to five years, we need to find a way of bringing into this country an average of about $10 billion of investment every year in infrastructure. And that is essential if we are going to survive. And that infrastructure is going to go into pipelines, settle products all over the country; it is going to go into the refineries.”
It’s ironical that Nigeria, a leading member of the Organisation of Petroleum Exporting Countries (OPEC) still relies heavily on importation of refined petroleum products to meet her domestic energy requirements.