Nigerian President Bola Tinubu has assured Nigerians that the four government-owned refineries will return to operation after the ongoing reforms aimed at making them commercially viable and sustainable.
Receiving the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), led by its President, Mr Sulaimon Oladiti, at the Presidential Villa, Abuja on Thursday, Tinubu said that the government was focused on restructuring the economics of the refineries to ensure profitability and value creation.
He stressed that refinery operations would not be judged by visible activity alone, but by their ability to deliver sustainable returns.
“The refineries that you mentioned are going to come back to work. We are just building a very firm reset and structural reworking of the economics of it,” he said.
Tinubu said that he had accepted the assets and liabilities inherited from previous administrations and remained committed to fixing the challenges in the sector.
“It is my responsibility now as President to fix it and make it work for the largest common value of our population. I take responsibility for that and I am going to do it,” he said.
On the Compressed Natural Gas (CNG) initiative, Tinubu said that the government would continue to expand the programme to reduce transportation costs and improve energy security.
He, however, urged transport operators to ensure that the benefits of CNG reached commuters and ordinary Nigerians.
“Whatever benefit that is coming from the CNG is going into the pockets of truck owners. It is not spreading as fast as I would like it, but it should spread,” he said.
He commended NUPENG for its support and cooperation with government policies aimed at repositioning the economy.
He recalled discussions with labour leaders before the removal of fuel subsidy, noting that the decision was necessary for the country’s long-term economic stability.
Tinubu said that the savings from subsidy removal had enabled the government to finance critical infrastructure projects and improve public finances.
He cited ongoing projects such as the Lagos-Ibadan Expressway, Abuja-Kaduna-Kano Road and Sokoto-Badagry Highway as examples of investments funded through the reforms.
President Tinubu urged Nigerians to remain patient and continue supporting democratic governance, describing democracy as a system that requires perseverance, sacrifice and collective effort.
“It is through perseverance, endurance and determination that we can bring about relief. The pain may be temporary, but the joy is everlasting,” he said.
Earlier, Mr. Oladiti had appealed to the president to address the growing casualization of workers in the oil and gas industry, particularly in the upstream sector.
“Our relationship with the International Oil Companies and the indigenous players in the upstream sector has been very cordial.
“However, we want to seize this opportunity to bring to your attention an unhealthy trend we have been trying to correct with little to no success.
”It is the casualization of workers, particularly in the upstream sector.
“We have engaged the management of some of the affected companies without results. Mr. President, we urge you to use your good offices to stop casualization of workers in our sector,” he said.
He also commended the efforts to revive the nation’s refineries and called for the rehabilitation of the Nigerian Pipelines and Storage Company (NPSC) depots across the country.
According to local media reports, the highlight of the meeting event was the inauguration of President Tinubu as the Grand Patron of the union, NUPENG.
GIK/APA