The Dangote Petroleum Refinery and other local refineries in Nigeria have said that they are working to stop the importation of refined petroleum products by the country in 18 months if they receive the support of the Nigerian Government.
Speaking under the aegis of the Crude Oil Refiners Association of Nigeria, the group disclosed that their refineries are at different stages of completion and will join the 650,000-capacity Dangote Petroleum Refinery.
The Publicity Secretary of the association, Eche Idoko, told The PUNCH newspaper in an interview that the Dangote Refinery and others in Nigeria could satisfy the petroleum products needed in Nigeria.
He argued that there was no way the government would tackle rising inflation if it did not address the high cost of petrol, especially by working with the local refiners.
“You can’t tackle inflation if you don’t address the pump price of petroleum products. You cannot say you have a plan to step down inflation and you are not involving the key sectors like the refineries; you have to involve us, let’s work together.
“And CORAN is saying that, in 18 months, if the Nigerian government will work with our programmes and plans, in 18 months, we can stop the importation of petroleum products completely. There are refineries in different stages of completion. In 18 months, we can produce what Nigeria will consume,” he stated.
Idoko said that Nigeria has enough crude oil to feed Dangote and other refineries but noted that crude theft has been the major challenge to the upstream oil sector.
“We have the crude oil to feed these refineries and more fields are being licensed by the day. So, there will be crude to feed the refineries. Our production figure is dropping because of the crude that is being stolen daily,” he said.
GIK/APA