Subsidy removal: More refineries won’t reduce fuel pump price – Tinubu aide

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

Ngelale  stated this while speaking in an interview on TVC.

The presidential spokesperson asked Nigerians disregard the myth that more refineries in Nigeria would translate to cheaper fuel price.

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

He said, “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 added.

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

The Dangote refinery was also inaugurated towards the end of  the administration of the former President Muhammadu Buhari. (Vanguard)