ENDING THE CYCLE OF WASTE
President Tinubu’s directive that the refineries be run as profitable ventures must be adhered to, writes SOLA ADEMORITAN For decades, Nigeria’s refineries have stood as perhaps the most frustrating symbol
President Bola Ahmed Tinubu has declared that Nigeria's refineries must not only be restarted, but also become profitable ventures. This marks a significant shift in how the government views the country's downstream petroleum sector, which has long been plagued by inefficiency and dependence on foreign imports. Speaking at the State House in Abuja, Tinubu emphasized that the refineries must deliver commercial value, addressing structural, operational, financial, and managerial problems that have hindered their performance in the past.
The removal of fuel subsidies, a decision praised by NUPENG President Salimon Akanni Oladiti for its financial prudence, has already set the stage for this major overhaul. However, simply restarting the refineries is not enough; they must be commercially viable, reliable, and able to compete in the global market. The success of this initiative hinges on the government's ability to improve crude supply, maintenance, management, financing, technical competence, operational efficiency, and security.
If successful, this transformation could bolster energy security, reduce import dependence, create jobs, and stimulate related industries. Critically, Tinubu's commitment to the refineries signals a willingness to accept responsibility for inherited problems, rather than passing the buck to previous administrations. If the government can deliver on this audacious promise, it could mark a pivotal moment in Nigeria's energy economy, moving beyond mere infrastructure spending to create a sustainable, profit-driven refining sector.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
