.Director/CEO DPR, Mr Sarki Auwalu (Right) presenting Licence to Establish (LTE) the first floating LNG production Plant in Nigeria to Managing Director UTM Offshore Limited, Mr Julius Rone at DPR office Abuja last week
Oil marketers have said they are ready to resume importation of Premium Motor Spirit (petrol) if foreign exchange is made available to them at a competitive rate
The Chairman, Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, while speaking at a virtual press briefing, said the country should move beyond the debate on the arguments for the removal of petrol price subsidies.
“The discussion we should be having today is how best to maximise the benefits of the removal of price controls and subsidies while minimising the adverse effects of this action on our citizens,” he said.
He said as promised by the government, a visible and measured reduction in the cost of governance throughout the polity would bring about savings that can be directed toward improving the livelihood of the average Nigerian.
“This cost optimisation initiative would demonstrate to Nigerians the good faith of the decision-makers in both the public and private sectors.”
Oyebanji stressed the need for domestic refining, saying, “It is necessary that we as a country have some clarity as to when optimal internal refining capacity will return to Nigeria.”
He said, “We need to collectively and as a nation, track the progress of work at all the new refineries under construction across the country to ensure they are delivered timely, efficiently and sustainably.
“If need be, private investment should be brought in to facilitate the rehabilitation and upgrade of the NNPC refineries for the efficient growth of Nigeria’s internal refining capacity and to ensure energy sufficiency for the country.”