CurrentReport Blog In a promising development for Nigerian consumers, Senator Ifeanyi Ubah of Anambra South has hinted at a significant reduction in the pump price of petroleum products. The Senator’s optimistic forecast comes as Nigeria’s oil refineries prepare to ramp up their operations to full capacity.
Addressing journalists on Thursday, Ubah, who chairs the Senate Committee on Downstream Petroleum, detailed the advancements in the nation’s refining sector. He underscored that the rejuvenation of Nigeria’s refineries, alongside the operational commencement of the Aliko Dangote refinery, heralds a new era for the country’s oil industry.
Reviving Nigeria’s Refining Capacity
Senator Ubah emphasized the progressive steps being taken to restore and enhance the country’s refinery operations. “As the chairman of the Senate Committee on Downstream, I can inform you that all our refineries are gearing up and will soon operate at full capacity,” he stated. This development is expected to not only stabilize but also reduce the cost of fuel, alleviating the economic burden on Nigerians.
The Senator elaborated on the gradual process of revitalizing the refineries, assuring that the nation is on the right path. “It’s a gradual process, but we are getting it right. I urge Nigerians to be patient with us; we are having good tidings,” Ubah remarked.
The Impact of Dangote Refinery
The operational launch of the Dangote refinery, a major milestone in Nigeria’s industrial sector, plays a crucial role in this positive outlook. Ubah praised the innovations and industry support that are currently propelling the sector forward. “We have Aliko Dangote refineries that have come on board. The innovations that are coming into the industry and the support that the president is giving to the industry are tremendous,” he added.
Presidential Support and Infrastructure Development
Highlighting the broader spectrum of reforms under President Bola Tinubu’s administration, Senator Ubah commended the President’s commitment to infrastructural development across the nation.
“Look at Abuja, for example. We have roads that were commissioned about 15 or 16 years ago and have not been touched, but today, under the administration of President Tinubu, they have received enormous attention through construction and rehabilitation,” Ubah pointed out.
He noted that this progress is not limited to the capital but extends across various regions and sectors, fostering national development and growth. “It is also the same in other parts of the country, not only Abuja, a lot of sectors are also being attended to through the president’s policies and reforms; as we all know, Rome was not built in a day,” he concluded.
