The government says it spends US$1.2 billion on fuel importation into Zambia per year.
Minister of Energy Matthew Nkhuwa said this of money amount increases annually by between 10 and 15 percent.
Mr. Nkhuwa disclosed in Luanda, Angola yesterdfay that it was therefore important that Zambia embraces initiatives that are aimed at reducing the cost of fuel.
The Minister of Energy, who inspected and toured the terminal oil depot for the Angolan national oil and gas company (SANANGOL) in Bengo province, said it was pleasing that the Zambian Cabinet has finally approved the commencement of feasibility studies to construct an oil pipeline between Angola and Lusaka.
He pointed out that government would want to see that oil products are brought in the country cheaply.
Mr. Nkhuwa said the oil terminal being built by the Angolan government will enable Zambia receive crude oil products such as natural gas, diesel, kerosene and petrol.
And Mr. Nkhuwa has said it was important for Africa to promote regional trade since it has all the natural resources.
He said regional integration in various sectors can improve lives of the local people.
The Minister is in Luanda to sign a memorandum of understanding with the Angolan government on the commencement of feasibility studies to construct an oil pipeline from that country to Lusaka.
Meanwhile, Mr Nkhuwa has said that there is a need for enhanced regional trade among African countries so they benefit from local resources.
Mr. Nkhuwa said there is no need for African countries to spend millions of dollars on imports from overseas when local resources can be shared among the countries for the benefit of the local people.
He said this in Bengo province in Angola when he paid a courtesy call on the provincial governor today.
Mr. Nkhuwa, who is in Angola to sign an inter-government Memorandum of Understanding (MoU) with the Angolan government over the construction of an oil pipeline that will stretch to Lusaka, said President Edgar Lungu’s administration has approved the project, which will be of benefit to Zambia.
He stated that Africa has the potential to better the lives of its people as it had all the necessary resources.
He said the pipeline project, whose negations started 10 years ago, will among other things, improve the lives of both countries through job creation, cheap oil products, and trade between.
Mr. Nkhuwa pointed out that he was happy to tour the oil refinery terminal facility in Bengo province where Zambia will also be tapping the crude products from.
And Bengo Provincial Governor Mara Quiosa said the region will greatly benefit from the project once the pipeline is constructed.
She said the province was still new and trade with countries such as Zambia will greatly contribute to its development.