NNPC REPORT: NIGERIA TO SAVE $1BN FROM FUEL IMPORT SUBSTITUTION

A preliminary report submitted to President Muhammadu Buhari by the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, has shown that $1 billion in foreign exchange will be saved from fuel import substitution when local refineries commence full production.

The president’s media aide, Mr. Garba Shehu, yesterday confirmed the submission of the report to the president. In the report, the NNPC said the nation's refineries were likely to achieve full production by the end of the year.

 

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