The Minister for State for Petroleum and the GMD of NNPC Dr Ibe Kachikwu has said that the government is trying to get Oil Majors to sell dollars to fuel importers. The Minister mentioned this at a senate hearing where he faced questions over his handling of the fuel crisis.
He had identified lack of access to forex as a major reason for the lingering fuel crisis and mentioned that the ministry was working with the CBN to get forex across to fuel importers.
“The major international upstream oil companies have indicated their willingness to support major oil marketing companies with some of the required foreign exchange.
“As of today, we have been able to work, in collaboration with the majors…with them to see how they can sell us foreign exchange for the naira components they require for their local operations,”
The Minister also confirmed that they were in talks with International Oil Companies to assist with fixing the ailing refineries.
“We have gotten commitments from some of the majors. (ENI’s) Agip has indicated interest to work with us on Port Harcourt, Chevron on Warri…..We are talking to Total on Kaduna.”
