- Aviation expert Ojikutu attributes Nigeria’s persistent fuel subsidy issue to institutional corruption
- Ojikutu urged the government to restore the country’s four refineries, recalling that fuel was cheaper in the 1980s and 1990s
- Ojikutu cautioned the Nigerian government against over-reliance on the Lagos-located Dangote Refinery
Aviation expert, Ojikutu, advises Tinubu to revamp Nigeria’s refineries
Photo credit: John Ojikutu/Kola SulaimonSource: UGC”Individuals with vested interests find it more profitable to import fuel in dollars rather than producing it locally in naira, fueling an ongoing crisis.”These same individuals were responsible for reversing the sale of two refineries to Dangote during the YarAdua/Jonathan administration after former President Olusegun Obasanjo had completed the sale.”More light on declining of Nigerias refineriesFuel was selling for less than 50 when the refineries were efficiently working.”Tinubu urged to restore moribund refineriesGet the four refineries working and stop importing fuel. Return to processing 450,000 barrels per day in the refineries and export the remaining 1.5 million barrels for sale in dollars. “This will help pay off foreign debts and build our external reserves.”Caution over-dependence on Dangote RefineryDo not depend solely on the Dangote Refinery for refined products. We must prioritise getting our four refineries working to avoid returning to the same fuel dependency crisis we have experienced for decades, Why Tinubu govt may increase fuel to N5,000, NLC speaks
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