African Democratic Congress (ADC) vice-presidential candidate, Rotimi Amaechi, has said he cannot promise Nigerians that the country’s government-owned refineries will be revived if his party takes power in 2027.
Amaechi made the statement while speaking on his plans for Nigeria’s energy sector, cautioning against making commitments before assessing the actual state of the facilities and the cost required to restore them.
The former Rivers State governor said politicians often make promises before getting into office, only to discover that the reality of governance is more complicated.
“Until you get into government, don’t be like those who made promises and when they got into government, they were overwhelmed,” Amaechi said.
His comment comes amid years of concern over the poor performance of Nigeria’s state-owned refineries, which have remained a major issue in the country’s oil sector despite several rehabilitation efforts.
Amaechi said he would rather assess the condition of the facilities before making any commitment on their revival.
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👉 JOIN WHATSAPP CHANNELThe ADC chieftain, however, outlined an alternative approach to improving fuel availability by supporting private and modular refinery operators through crude oil pricing.
He explained that an administration led by ADC presidential candidate Atiku Abubakar would consider selling crude oil to domestic refiners below international market prices, with the difference serving as government support.
Using Dangote Refinery as an example, Amaechi said if crude oil was priced at N15,000 internationally, government could sell to local refiners at N10,000, with the N5,000 difference serving as a form of subsidy.
“If the international market price of crude oil is N15,000, Dangote has a refinery, there are those who have modular refineries. So you say to them, ‘Look gentlemen, we will sell to you at N10,000. Our subsidy is the N5,000 you are not paying,’” he said.
According to him, cheaper domestic refining would reduce the cost of petroleum products and eventually lower the prices of transportation, food and other essential goods.
Amaechi argued that the removal of fuel subsidy had contributed to rising production and transportation costs, affecting the daily lives of Nigerians.
“It affects the bread you buy, it affects the transport you use to go to work or anywhere,” he said.
He added that the Petroleum Industry Act could be amended where necessary to support the proposed policy.
On broader economic plans, Amaechi said an ADC administration would prioritise agriculture, production and industrialisation, arguing that creating jobs would also help tackle insecurity.
He also listed security, education and the economy as key areas requiring urgent attention if Nigeria is to make progress.
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