The Nigerian Nationwide Petroleum Firm Restricted (NNPCL) has no justification for persevering with to import gasoline into Nigeria regardless of Dangote Refinery’s capability to satisfy native demand, the APC Prosperity Group has acknowledged.
In response to an announcement signed by Usman Abubakar, this continued importation perpetuates Nigeria’s reliance on international gasoline, exacerbating international trade pressures and undermining the Petroleum Trade Act’s goals.
Applauding the elimination of gasoline subsidies by President Bola Tinubu aimed to stimulate native refining and scale back dependence on imports, Abubakar mentioned the Mele Kyari-led NNPC’s actions contradict this aim.
Abubakar added that Dangote Refinery boasts a formidable inventory of over 500 million litres of petrol, sufficient to cater to Nigeria’s wants if retailers buy from it.
Between September 15 and October 5, he famous that the refinery delivered 148 million litres of petrol, showcasing its potential to provide considerably extra.
The APC Prosperity Group recommended Aliko Dangote’s visionary management and funding in Nigeria’s refining sector.
Abubakar mentioned his refinery exemplifies native content material growth and Nigeria’s potential for self-sufficiency in petroleum manufacturing.
Nevertheless, he mentioned the continued importation of gasoline undermines the federal government’s efforts to advertise native content material and stimulate financial progress.
To deal with the disaster, Abubakar mentioned the NNPC should halt gasoline importation and assist native refineries to optimize manufacturing capability.
“The APC Prosperity Group has expressed deep concern over the continued petroleum disaster in Nigeria, marked by shortage and frequent worth hikes, following President Bola Tinubu’s elimination of gasoline subsidies. The group considers the present scenario unacceptable and calls for pressing consideration,” he mentioned.
“The elimination of subsidies aimed to stimulate native refining and scale back dependence on imports. Nevertheless, the NNPC’s continued importation of gasoline, regardless of Dangote Refinery’s capability to satisfy native demand, is counterproductive.
“Dangote Refinery has a formidable inventory of over 500 million litres of petrol, sufficient to cater to Nigeria’s wants if retailers buy from itz Between September 15 and October 5, the refinery delivered 148 million litres of petrol, showcasing its potential to provide considerably extra.
“This underutilization of native refining capability perpetuates Nigeria’s reliance on imported gasoline, exacerbating international trade pressures and undermining the Petroleum Trade Act’s goals. The Act prioritizes home refining to advertise vitality safety and self-sufficiency.
“The APC Prosperity Group commends Aliko Dangote’s visionary management and funding in Nigeria’s refining sector. His refinery exemplifies native content material growth and Nigeria’s potential for self-sufficiency in petroleum manufacturing.
“The continued importation of gasoline undermines the federal government’s efforts to advertise native content material and stimulate financial progress. It’s essential that the NNPC prioritizes home refining to make sure vitality safety, scale back international trade outflows, and create jobs.
“To deal with the disaster, the NNPC should halt gasoline importation and assist native refineries to optimize manufacturing capability. The company ought to incentivize retailers to buy from native refineries and guarantee secure market situations for home producers.
“The APC Prosperity Group urges the NNPC to take quick motion to deal with the petroleum disaster and promote Nigeria’s vitality self-sufficiency, warning that failure to take action will perpetuate vitality insecurity, undermine financial progress, and contradict authorities coverage goals.”
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