More refineries in Nigeria won’t reduce fuel pump price – Aguri Ngelale

More refineries in Nigeria won’t reduce fuel pump price – Aguri Ngelale

 Aguri Ngelale, the Senior Special Assistant to President
Bola Ahmed Tinubu on Public Affairs, has said that having more refineries in
Nigeria will not reduce fuel pump prices.

 

He disclosed this during a recent interview on TVC.

 

According to him, Nigerians should disregard the myth that
more refineries would mean cheaper fuel products.

 

He, however, explained that having more refineries in
Nigeria would save the country the cost that would have gone into importing
fuel products.

 

“That is a myth; it does not happen anywhere in the world;
even if we had the most refineries producing the most PMS in the world, you
would find that the most prolific PMS producers with their refineries do not
charge differently from the countries without refineries. I am not saying that
we should not have refineries, but there are benefits to having working
refineries”, he stated.

 

Recall that the federal government said Port
Harcourt refinery would be revitalized in December 2023.

 

Also, the Dangote refinery was inaugurated at the twilight
of former President Muhammadu Buhari’s administration.

Source: More refineries in Nigeria won’t reduce fuel pump price – Aguri Ngelale

 - NigerianEye
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