The Federal Government of Nigeria may halt the importation of fuel in 2019 if a new National Oil Policy being proposed is approved by the Federal Executive Council (FEC).

The Minister of State for Petroleum, Mr. Ibe Kachikwu told journalists on Wednesday that the new policy is geared towards re-organising the Nigerian National Petroleum Corporation (NNPC) for greater accountability and efficiency.

Kachikwu said within the next two years, the Federal Government intends to revive the moribund refineries in the country to enable them contribute about 8 million out of the 20 million litres that the nation consumes daily.

He further explained that the government has in the new policy, formulated a model that will attract foreign investors to partner with the NNPC to repair the nation’s refineries within the two- year period.

Recall that the Minister had in May, during a live BBC programme, “Hard Talk” in London, vowed to resign from his position if the nation does not stop the importation of fuel by the end of 2019.