FG may soon stop export of crude oil - Lukman

Taiwo Adisa, Abuja - 15.05.2009

THE Minister of Petroleum Resources, Dr. Rilwan Lukwan, has stated that the Federal Government may soon stop the exportation of crude oil, so as to enable the country refine its petroleum products locally.

The minister, who stated this while appearing before the Senate Committee on Petroleum (Downstream) said that the government aimed at addressing the perennial crisis of petroleum products supply in the country.

He said that the present administration was intent on ensuring that Nigeria sustain the policy of full deregulation of the industry. Chairman of the Senate Committee on Petroleum Downstreat, Senator Emmanuel Paulker, presided over the meeting, which was also attended by Senators Enyinninya Abaribe and Abubakar Gada.

Dr. Lukman, who was accompanied to the briefing by the Minister of State, Odein Ajumogobia and the Special Adviser on Petroleum, Dr. Emmanuel Egbogah, as well as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Alhaji Mohammed Barkindo, lamented what he called the poor maintenance culture in the country as it relates to the state of the refineries.

Also on Thursday, some stakeholders in the petroleum sector, who attended the meeting canvassed for full deregulation, saying that the oil marketers were not benefitting from government subsidy.