The Federal Government has projected that Nigeria will put an end to the importation of petroleum products by the first quarter of 2024.
The Minister of State Petroleum Resources, Timipre Sylva stated this at the resumption of the PMB administration scorecard series organised by the Ministry of Information and Culture.
Sylva said the rehabilitation of the Port-Harcourt refinery would be partly completed while the 650,000 barrel per day capacity Dangote refinery would also be on stream.
The Minister also reiterated the position of the Federal Government that subsidy regime was no longer sustainable as the huge fund spent on subsidies could be deployed to other developmental projects.
He added that the removal of subsidy would attract more investment into the petroleum sector as many private people would be willing to invest in building refineries.