The Minister of State for Budget and National Planning, Zainab Ahmed on Wednesday has revealed Federal Government’s plan to end importation of petroleum product in three years.
She said this while speaking to the media at the end of the 67th Federal Executive Council meeting in Abuja.
The Minister noted that 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, that the targeted three-year deadline set to enable the country to become a net exporter of petroleum products.
According to her, the objective 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.” She said.