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.
If PF was smart we’d be exploring for oil in western province and in eastern parts around great lakes .
Does this minister know the geography of southern Africa very well? The central and nearest town from Angola would still be Ndola not Lusaka. Therefore the oil pipe line should connect from Angola to Ndola were the current refinery is, if it is still there? Ndola is in the central part of Zambia and near Angola. That means Less costs for the project if the refinery plant remains or constructed in Ndola .
They spend $1.2 billion, but then how much do they make from that spend? How much is the consumer market worth? Invest in clean energy, electricity will be the new oil. Electric trains would move more people and goods faster. Vehicles in Europe and America are shifting towards electric. Stop dosing and act now.
THIS 1.2 BILLION GOES THROUGH HOW MANY MIDDLE MEN ????????????????
SOMEONE WISELY STATED LOOK TO THE FUTURE SO TRUE !!!!!!!!!!!!!!!!!!
BUT PF IS NOT CAPABLE OF LOOKING FURTHER THAN THEIR DEEP POCKETS
Its very painful to see how this man at the helm of this ministry has managed to cripple Indeni!
They have failed to utilise the already existing pipeline, for months now the plant has had no crude oil risking the many sensitive and expensive equipment at the plant;
What are your priorities sure imwe bantu, for the sake of the so called empowerment of your cadres with Tanker trucks, you are willing to KILL Indeni?
Bwana Minister, if you were buying crude oil, which has significantly reduced in price over the years, you were not going to spend that much. Even Zambia was going to benefit from the reduction of crude on the international market. But you have chosen the expensive route to better a few individuals and keep the majority Zambians in perpetual poverty!
I bet you his company was involved in some capacity
This corrupt PF government says it spends US 1.2 billions annually on oil imports. Couple of questions: you say the GOVERNMENT spends this money? You are not spending anything, it’s the consumer (mostly motorists) who is spending that money. And secondly, if this would be true, then why are all those areas running dry on a frequent basis?
Let’s see if Matty Investments got any contracts from energy sector
Alternative sources of energy is where I am shifting my investments to. Solar energy and wind. My companies are looking to work with specialist in this area to take advantage of this future lucrative business.
From the man with no Gr12 certificate…