Summary of Vanguard News Today: “Why Nigeria Will Continue to Import Petrol — Investigation”
By George NWOGU | BIZVILLE PROJECT MANAGEMENT Limited
Dear Industry Colleagues and Partners,
Image by George NWOGU
- Continued Petrol Importation: Nigeria will import petrol in the short to medium term due to deregulation, modular refineries’ limitations, funding, forex issues, and refinery construction delays.
- Modular Refineries: Over 20 modular refineries refine diesel, kerosene, and other products, not petrol.
- Deregulation Impact: Deregulation allows companies to source petrol from local and international markets.
- Rising Costs: Petrol landing costs have increased, pushing pump prices above N1,000 per litre.
- Business Challenges: High interest rates and increased petrol truck costs strain retail outlet owners.
- Energy Transition & Investment: Investment in fossil fuel projects is hampered by global energy transition and forex challenges.
- Alternative Energy: Consumers are encouraged to explore alternatives like CNG to reduce reliance on petrol.
Read the full article here: [Why Nigeria Will Continue to Import Petrol — Investigation](https://www.vanguardngr.com/2024/10/why-nigeria-will-continue-to-import-petrol-investigation/)
COO, BIZVILLE PROJECT MANAGEMENT Limited
#PetrolImportation #NigerianEconomy #Deregulation #EnergyTransition #CNGAlternatives #GeorgeNWOGU #BIZVILLEPM 🌐🚀
Motto: Humanity First, then Smart and Green. 🚀
