By Omono Okonkwo Ajuri Ngelale, the Senior Special Assistant to President Bola Ahmed Tinubu on Public Affairs has said that more refineries in Nigeria, will not lead to lower fuel prices. He stated this during a recent interview via TVC News. According to him, people often say that if the country’s refineries were working, fuel would be cheap for Nigerians at the pump, but nothing could be further from the truth. He said:
I disagree with this. Though fuel prices won't be as low as it was when it was being subsidized, except the Nigeria factor of corruption is allow to seep in, price of fuel will reduce when it is refined locally. Ngelale said it that the cost of transportation to and from will be removed and this will affect cost which will reduce sales price. Nigeria should get to a place when we will not send crude oil abroad again, we will sell refined fuel abroad. In such a time apart of fuel, we will also get other accompanying products which we had been loosing by selling crude oil abroad to be refined and brought back. Refining our crude here will create employment for Nigerians. This time round, let's ensure the refineries are owned by private companies and not government.
I disagree with this. Though fuel prices won't be as low as it was when it was being subsidized, except the Nigeria factor of corruption is allow to seep in, price of fuel will reduce when it is refined locally. Ngelale said it that the cost of transportation to and from will be removed and this will affect cost which will reduce sales price. Nigeria should get to a place when we will not send crude oil abroad again, we will sell refined fuel abroad. In such a time apart of fuel, we will also get other accompanying products which we had been loosing by selling crude oil abroad to be refined and brought back. Refining our crude here will create employment for Nigerians. This time round, let's ensure the refineries are owned by private companies and not government.