Address obstacles strangling revival of Nigerian refineries – Northern Coalition to Tinubu

The Coalition of Northern Groups (CNG) has called on President Bola Ahmed Tinubu to address the major obstacles strangling the revival of the nation’s refineries.

The Coalition said this while welcoming the decision by the government to sell crude oil in naira to domestic refineries as against earlier arrangement of payment in the US dollar.

According to the coalition, the decision is a positive step towards strengthening the naira and the economy and ensuring self-sufficiency in oil production.

The coalition had back in April in a statement by its national coordinator, Jamilu Aliyu Charanchi, called on the Nigerian Government to accept the local currency in lieu of the US dollar for the purpose of purchasing crude oil from domestic refineries.

The Coalition said it is certain that the recent approach undertaken by the government will enhance transparency, boost local capacity, contribute to the growth of our refining sector and make fuel consistently available at affordable prices.

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“We believe crude oil transactions in naira in Nigeria will make the PMS permanently available and eliminate artificial scarcity that fuel importers have been using to milk Nigerians dry,” it said in a statement signed by Jamilu Aliyu Charanchi, National Coordinator.

“We view this move as a win-win for Nigeria, Nigerians and the refineries.

It further called on the Tibubu administration to make genuine efforts to revamp state-owned refineries in Kaduna, Port Harcourt and Warri to deepen competition among domestic refiners to enable Nigerians access to quality and affordable fuel.

“By taking further decisions to resuscitate government refineries, the President’s resolve to provide a lasting solution to Nigeria’s paradox of an oil-producing but oil-importing country will be permanently addressed,” it added.

“The only way to address the fuel crisis in Nigeria is to refine fuel locally to completely remove the use of dollars in the process.

“The refineries must also be revitalized and upgraded to meet our local needs to exterminate the import-dependent fuel crisis that is being orchestrated by the importing cartel.

“We urge the Federal Government to sustain this momentum and continue implementing policies that prioritize Nigerian interests.

In the same vein, the CNG appeals to domestic refineries to take advantage of this opportunity to produce high-quality petroleum products that are cost-effective and make them reasonably affordable to Nigerians devoid of exploitation.