By Yusuf Mutiu-Olaitan
October 30th, 2024
President Bola Tinubu has promised that the motivation for Aliko Dangote’s 650,000 barrels per day refinery shall not be defeated, and also insisted Nigeria can have energy security working.
This much was made available in a statement by Bayo Onanuga, spokesperson to President Tinubu, on Tuesday, during a visit by the Committee on the Naira-based sales of crude oil and refined products to the Aso Villa.
The President assured that whatever steps, the Naira-for-crude deal should not drag Nigeria back on the road for progress.
“Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years.
“There can be cost and revenue adjustments in the oil sector, but the issue is that the government will not have to go back to the old way of doing things.
“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium- and long-term basis,’’ the President said.
He added that market forces will continue to determine how things pan out in the country’s oil and gas sector.
“The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet.
“I want the issues resolved without future waste of time,’’ he added.