The perennial fuel scarcity in the country will become a thing of the past in the country once the petroleum refinery being built by Aliko Dangote, comes on board, Minister of Information, Lai Mohammed said on Thursday.
The refinery, which is targeting 650,000 barrels per day, will become operational by 2018.
Mohammed who spoke when he visited Rutam House, headquarters of the Guardian Newspapers in Lagos, said that in addition to preparing existing refineries for optimal usage, government would license new investors to bring in modular refineries that would be sited close to the existing ones for access to crude.
He identified diversion of petroleum products to neighbouring countries as one of the major reasons for the ongoing scarcity of petrol.
The minister said when the current administration ended the “corrupt subsidy regime”, the independent marketers demanded for their outstanding payments before they could resume importation.
Mohammed said after government had paid the marketers over N594 billion subsidy arrears, they reneged on their promise to be importing fuel, leaving the task for the Nigerian National Petroleum Corporation (NNPC) alone.