News
Refurbish Nigerian Refineries Back To Stardard – Ex Minister Tells Tinubu’s Govt
EKO HOT BLOG reports that a former Nigerian minister, Olu Falae has advised the President Bola Tinubu-led government to repair and sell off non-functioning refineries.
Making this call while appearing on Channels TV’s Politics Today on Thursday, the former finance minister argued that the government was not capable of running the refineries.
EDITOR’S PICKS
-
APC Wins In Ekiti Local Government Election, Secures All 38 Chairmanship, 177 Councilor Seats
-
JUST IN: Tension As Fire Breaks Out At NNPC Filling Station In Iseyin, Oyo
-
Police Apprehend Suspected Killers Of Imo DPO, Inspector
This online media platform gathered that most populous country in Africa and one of the biggest producers of crude oil has relied on fuel imports for many years to meet local demand due to underperforming state-run refineries in Warri, Port Harcourt, and Kaduna.
The former minister said that his “belief is that Nigeria’s problem with fuel and its price will be substantially resolved when we are able to repair and recommission our refineries and sell to companies that know how to run refineries. We should not try to run them ourselves because if we try to do so, politics will intervene and we will mismanage them. I am sorry to say this.
FURTHER READING
-
Police Confirm Arrest Of Kano Gov’s Aide Over Alleged Diversion of State’s Palliatives
-
Presidency Reacts To Outrage Over Tinubu’s Delegates To COP28 Summit
-
FG Yet To Release Withheld Salaries Of University Lecturers – Report
“So, we repair them and sell them to those who can manage refineries. And then, they will use those refineries to refine Nigerian crude oil and sell them to those us here in Nigeria. That reduces the influence of the dollar exchange rate substantially. I am almost certain that the day we do that, the price of fuel will come down almost substantially. I have no doubt that.”
Click to watch our video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611