The Federal Government, headed by President Bola Tinubu, has been urged to support modular refineries and the production of compressed natural gas (CNG) vehicles in order to lessen the hardship that Nigerians are currently experiencing as a result of the removal of the nation’s fuel subsidy.
The Akwa Ibom State Chairman of the group, Otuekong Franklyn Isong, said at a press conference on Wednesday in Uyo that if the federal government encouraged local refiners to refine locally and allowed them to buy crude oil with Naira rather than dollars, there would be an abundance of petroleum products, which would eventually drive down the price.
Isong expressed sadness that despite Nigeria’s abundant crude oil supply, the cost of petroleum products continues to rise dramatically, having an impact on the price of other goods. He added that President Tinubu should urgently look into the condition of Nigerians.
He also expressed sadness over the millions of Naira spent on Turn Around Maintenance (TAM) of inactive refineries and staff who were still receiving monthly wages despite their inactivity. He demanded the federal government to release a list of people who received the subsidy between 1999 and the date it was eliminated on May 29, 2023.
While pleading with the labour unions to prevent the implementation of the anticipated impending increase in petrol prices, he charged them with organising a massive protest in the event that the federal government does decide to do so.
He asserted, “We have crude oil in this nation; there is no justification for Nigerians to be witnessing an increase in the price of petrol. We don’t refine our products, which is why we are having this problem. We are dependent on currency exchange rates, specifically the strengthening dollar and free-falling naira.
“CHRAN wants Bola Tinubu, the president, to fix our refineries and encourage modular refineries so that products can be refined locally. There will be a supply of goods and a decrease in price if they can refine crude oil instead of buying it in dollars.
In order to solve the issue of the ongoing increase in petrol prices, the president should also see to it that compressed natural gas vehicles are activated. After eliminating the subsidy, you can no longer talk about market forces or allow Nigerians’ fate to depend on what the market decides about the products you don’t make.
Isong also urged President Tinubu to assemble his cabinet, asking why a leader with 60 days in office hadn’t done so despite receiving approval from the National Assembly.
He ascribed Nigeria’s issues on a lack of advisors for the president.
“After more than 60 days in office, the president still lacks a cabinet? What prevents the 45 nominees who have been cleared from taking the oath of office? We are currently unaware of the identity of either the Minister of Petroleum Resources or the Minister of Labour. Who will address the rise in fuel prices and the security situation? so forth. Let his cabinet make recommendations to him regarding the economy, security, etc. Because of a strict federal policy, theft is on the rise and poverty levels are high. He spoke.