• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Kachikwu has outlined Nigeria’s path to independence from oil imports

Chacha Wabara by Chacha Wabara
October 25, 2017
in Business News
Removal Of Fuel Subsidy: Why I’m Cautiously Excited

Emmanuel Kachikwu, Minister of State for Petroleum

Share on FacebookShare on TwitterShare on Linkedin

According to the Minister of State for Petroleum, Ibe Kachikwu, the Federal Government has received 26 bids for its proposed plan to overhaul the nation’s oil refineries, one of the pathways of Nigeria’s independence from oil imports. The implementation of the plan, which would cost about $2 billion, has been moved to 2018, as the Minister says that is when the FG would decide on a successful bidder.

The Minister, who was speaking at an oil conference in Cape Town on Tuesday, also indicated the FG was eyeing total independence from importation of refined products by 2020 as the Dangote refinery is expected to begin operations by end 2019.

“We are almost at a threshold of finalising the process of selection… That (the overhauled refinery and the Dangote refinery) should be enough to meet local needs,” Mr. Kachikwu said, according to Reuters.” Nigeria’s refineries are hardly producing any refined fuels as several years of mismanagement and poor maintenance have rendered them comatose. As a result, the country depends on importing refined fuels, which in turn, costs the nation several billions in foreign exchange and almost nullifies the revenue accrued from sale of crude oil.

RelatedStories

Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN

Dangote Refinery faults FCCPC’s second attempt to challenge N100 billion import license suit 

July 10, 2025
Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN

Dangote Refinery cuts petrol ex-depot price to N820 per litre in fresh adjustment 

July 8, 2025

Thus, the attempt to wean Nigeria of refined imports is expected to do wonders to the forex market, government revenue and pump prices. However, several companies that currently thrive on oil importation are unlikely to consider the move as palatable as it could run them out of business.


Follow us for Breaking News and Market Intelligence.
Tags: Dangote RefineryKavhikwuNews Reviewoil imports
Chacha Wabara

Chacha Wabara

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

Related Posts

Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN
Energy

Dangote Refinery faults FCCPC’s second attempt to challenge N100 billion import license suit 

July 10, 2025
Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN
Energy

Dangote Refinery cuts petrol ex-depot price to N820 per litre in fresh adjustment 

July 8, 2025
Transmission lines in Cross River, Rivers have been vandalized severally in over 2 months – TCN
Energy

Dangote Refinery set to process 100% local crude by end of 2025 – Report  

July 8, 2025
GDP
Economy

Analysts project fastest GDP growth since 2014, pinpoint stocks set to rally in H2 2025 

July 7, 2025
Forex volatility: BDC operators reveal over 90% of dollar liquidity is off the books
Economy

Experts attribute Nigeria’s $3.73 billion balance of payments surplus to FX depreciation, Dangote Refinery 

June 29, 2025
AAM2025: Afreximbank’s support for Dangote Refinery hits over $4 billion — Benedict Oramah
Energy

AAM2025: Afreximbank’s support for Dangote Refinery hits over $4 billion — Benedict Oramah

June 28, 2025
Next Post
Profile of new UAC Nigeria Plc boss

Profile of new UAC Nigeria Plc boss

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  
  • Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 
  • Court dismisses ‘scavengers, beggars’ N500 million demand against FCT Minister, Wike  

Follow us on social media:

Recent News

EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC declares Kano indigene, Auwalu Tijjani wanted over alleged $1.9m money laundering  

July 11, 2025
FX rate for customs import duties rises again by N37 

Customs intercepts N9.23billion worth of counterfeit drugs, hands over 25 containers to NAFDAC 

July 11, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics