There has been a steady surge in fuel importation to Nigeria with more inflows expected from Europe in the months to come. Trading sources told Platts, a global energy information website, at the weekend that one of the main reasons for the strong demand has been the increased buying interest from Nigeria. The country has four refineries which could reduce petroleum products importation by up to 50 per cent but the refineries have struggled to remain afloat and have been unable to churn out products in appreciable quantities since the Nigeria National Petroleum Corporation (NNPC) announced they were back. For instance, the 37-year-old Warri refinery has remained shut since August due to some technical hitches in one of its units. The NNPC Group Managing Director, Dr Ibe Kachikwu gave a 90 days ultimatum to the refineries to stream back to full active service or be sold. There are plans […]