The increase in price of petroleum products in the country will soon be addressed, as the federal government is already concluding plans to achieve significant reduction of the current price regime across the country.
Senior Special Assistant to the President on Niger Delta Affairs, Senator Ita Enang, during an interaction with journalists over the weekend in Uyo, Akwa Ibom State, disclosed that the federal government has resolved to integrate local (illegal) oil refiners into the mainstream refining in the country and this resolution would be formalized during the National Conference on Artisanal and Modular refining scheduled to hold from March 15 – 17, 2021 in Abuja. He noted that it is more necessary to do in-country refining to avoid certain duties and charges connected with importation of petroleum products.
According to the SSA, the federal government had agreed to partner with those in the creeks on how to legalize their businesses because of the danger the current practice of illegal refineries is posing to the environment and the economy of the country.
Throwing more light on the proposed national conference, he said that persons who have different capacities to do different things would come; even the illegal refiners would also come, and teach us how they do it and if they can improve upon it by giving them the equipment that does the cracking, we are good to go.
Senator Enang disclosed that government is encouraged to do this because during the Nigerian civil war that lasted for 30months, Biafra was cut off from the entire world, they never imported petroleum products, they were producing and refining locally and that capacity is still there.
“With this step, it would be possible to have the products at less than N100 per litre because other charges relating to clearing the cargo would not be there”.