President Bola tinubu has disclosed the intention of his administration to sustain Nigeria’s refineries and not allow the strategic economic assest of the country to waste away, given the huge investments already made over the years.
President bola tinubu gave the assurance on thursday in Nigeria’s federal capital, abuja during an engagement with the leadership of the Nigerian union of petroleum and natural gas workers, NUPENG, led by it’s national president, Salimon Oladiti where he also assured continous reforms to deliver value and profit.
President bola tinubu, while responding to a request by NUPENG to revive the nation’s oil refineries, explained that the challenges confronting the refineries would be addressed through a systematic, evidence-based approach rather than short-term interventions.
According to him, the Federal Government will encourage detailed research and technical assessments to identify the structural, operational, financial and managerial challenges affecting the facilities and develop sustainable solutions.
“The refineries that you mentioned are going to come back to work; we’re just building a very firm, resetting, and structural reworking of the economy of it. Ordinary flame and smoke of a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it is built.
“I’m not a man who goes looking back on everything because I’ve accepted the assets and liabilities of my predecessor. No matter what has happened in the years past, it’s now my responsibility as president to fix it and make it work for the greatest common good of our population. I take responsibility for that, and we will do it.
The President also took the opportunity to acknowledge a former President of the Union, the late Frank Kokori, for his role in deepening democracy in Nigeria.
“You brought good memories of my relationship with Frank Kokori; may his soul rest in peace. We struggled for this democratic dispensation together, and it was very tough for us to have this democracy, and you have been a very good partner of the government in progress,” he said.
President Tinubu also promised the NUPENG executives more inclusion in the implementation of the Presidential Initiative on Compressed Natural Gas. He, however, challenged them to make the effects of the CNG drive get down to the communities.
The NUPENG President, Comrade Oladiti, commended the President for taking the bold decision to end the fuel subsidy regime, describing the policy as a courageous step that has saved the country from decades of financial drain and depletion of national reserves.
According to him, the decision to remove the fuel subsidy has begun to yield enormous benefits for the country by freeing resources for critical infrastructure development and other sectors of the economy.
The NUPENG president however called for sustained efforts to revive the refineries, stressing that functional refineries would strengthen Nigeria’s energy security, reduce dependence on imported petroleum products, and create more opportunities for Nigerian workers.
