Vice-President Kashim Shettima has revealed that Nigeria spends $25 billion per annum on the importation of petroleum products.
Speaking
at the Vanguard Economic Discourse themed ‘Reforms in the Era of Global
Economic Uncertainties: Whither Nigeria’, which was held at the Civic Centre,
Victoria Island, Lagos, Shettima said the importation of fuel would soon be
forgotten as the government of President Bola Tinubu is making efforts to make
life comfortable for Nigerians.
Shettima,
who was represented by Special Adviser on Economic Affairs, Tope Fasua, told
Nigerians that new policies put in place by his principal would yield fruits in
the near future.
He also
said that the country would stop importing the product due to the backing of
the government and the revamping of state-owned refineries.
Shettima
said;
“With the support, our government is lending
to our private sector-led oil refineries and rejuvenation of some of the
state-owned facilities.
"The
$25 billion we spend yearly importing petroleum and other refined products will
soon be a thing of the past allowing the naira a much-deserved breath.
“So this administration is not out to make the
life of Nigerians tougher, but to make the Nigerian economy sustainable, and
the lives of our people more enjoyable.
“Rest assured, ladies and gentlemen, that the
next few years will be full of positive achievements. They include improvements
in the standards of living, higher productivity, food security, bumper harvests
and remarkable achievement with the guidance and grace of Almighty God.”
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