By Adaobi Rhema Oguejiofor
The Nigerian National Petroleum Company (NNPC) Limited has said that Nigeria is going to save about N367.2 billion on an annual basis by locally refining crude oil into finished petroleum products.
Mele Kyari, the Group Chief Executive Officer of NNPC Limited, stated that the local refining of crude oil in the country will also compress the logistics cost in fuel supply by about N17 per litre.
While speaking during a programme on NTA, Kyari noted that although the in-country refining of crude oil may not necessarily bring about a massive crash in the price of fuel, with regards to logistics, there will be some gains.
In a related development, oil marketers on Wednesday said that it is time for the Federal Government, through NNPC Limited, to get the refineries in Nigeria to work because of the huge benefits it would bring to the country.