Minister of State for Petroleum Resources, Chief Timipre Sylva, has said Nigeria consumes about 250 million litres of engine oil yearly and this consumption grows by more than five per cent every year due to the addition of new vehicles and machinery. THE GUARDIAN reports.

According to THE GUARDIAN, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Kesiye Wabote, stated this on behalf of the agency and the minister of state for petroleum resources. Information Guide Nigeria

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He, however, regretted that “The in-country blending capacity has remained constant at 150 million litres, showing a shortage of about 100 million litres. This shortfall is met by the importation of finished lube oil products with the attendant loss of revenue and job opportunities”. jamb results

He also said the Federal Government is determined to deepen local content and reduce the importation of products we could produce locally.

He spoke at the groundbreaking of the ERASKON 64,000 Litres/Day Lubricant and Chemical Blending Plant and product Launch ceremony in Gbarain, Yenagoa Bayelsa State.