Petrol imports gulp N3.3trn in three months despite rising local refining
Despite efforts to boost local refining Nigerias petrol imports have reached a staggering N3.3 trillion in just three months. This is a significant increase from the previous year despite the governments efforts to reduce the countrys reliance on imported fuel. The high cost of importing petrol is a major concern for the Nigerian economy as it puts a strain on the countrys foreign reserves and increases the burden on consumers. The government has been working to revitalize the countrys refineries and reduce the need for imports but progress has been slow. This highlights the urgent need for more efficient and sustainable solutions to address Nigerias petrol import problem.
Read More Global News, Blog Stories, and Summaries at: https://newsbyday.com
Discussion Points:
Responses- 1) Why does the federal government still rely heavily on petrol importation despite having local refineries like Dangote refinery (largest private refinery in the world)
- 2) What are the implications of this large-scale importation of petrol on local refineries and its implications on the economy?
- 3) Is Nigeria's current petrol importation strategy sustainable in a long time? Despite claims that the subsidy has been removed.
- Topics
- Questions
- Responses
- Views
- Activity
-
11 Minutes
- 5
- 0
- 0
- 11M
-
14 Hours
- 4
- 0
- 10
- 14H
-
15 Hours
- 5
- 0
- 12
- 15H
-
19 Hours
- 5
- 0
- 14
- 19H
-
19 Hours
- 5
- 0
- 18
- 19H
-
22 Hours
- 4
- 0
- 12
- 22H
-
23 Hours
- 5
- 0
- 12
- 23H
-
1 Day
- 5
- 0
- 21
- 1D
-
1 Day
- 4
- 0
- 19
- 1D
-
1 Day
- 5
- 0
- 22
- 1D
How many of the topics should be included in the share?