Vice President Shettima disclosed that Nigeria annually spends $25 billion on importing petroleum products despite having three state-owned refineries that have been non-functional for years. He spoke at the Vanguard Economic Discourse, expressing optimism that Nigeria would soon end fuel importation through government support and refinery revitalization efforts. Despite citizens facing high fuel prices, he assured that President Tinubu’s administration aims to improve living standards. He highlighted ongoing policy reforms and investments, including $20 billion secured by President Tinubu from various countries, aiming to boost energy sufficiency and economic sustainability. Shettima emphasized the government’s commitment to positive achievements while ensuring policies don’t impose undue hardship on Nigerians.
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