Agenda Papers Editorial: Kudos to Tinubu on Portharcout refineries revival & need for reduction in petrol price– By Austine Uche-Ejeke

While Nigerians are still basking in the euphoria of the revamping of the moribund Portharcout refineries it behoves us to lend out congratulatory voice to the president and Nigeria in general on this great feat.

Point must be noted here that as a watch dogs of the government and society our job is not to always criticize the government but to praise whenever they do something outstanding and commendable.

The commendation is coming on the heels that for the past five or more years virtually all the four government owned refineries were not working and if a government that came to power only last year can bring it back on stream then they need a pat on the back.

It is not the place of this piece to go into the various negative stories emanating from the turned around refinery. Stories like Portharcout refinery not actually refining crude but blending stuff and pushing it out or that petrol coming out there are imported or even the sad news that barely three days of announcement of resumption of oil production there that it has shut down production.

All these will be a topic for another day while we are positive that they may be handwork of detractors who never want to see the good of the government of the day.

Be that as it may our major interest is the welfare of the suffering Nigerian people and it is on that note that we are advocating that since Portharcout refinery is back on track refining crude oil and coupled with the fact that Dangote refineries has been producing for the past two months price of fuel should naturally come down.

Our advocacy is predicated on the simple law of economics that since fuel importation like fuel subsidy is gone the prices of petrol should naturally come down as the import duties associated with fuel importation is no longer there.

The feelers we are getting that fuel from Portharcout refineries will be dispensed at N1020 per litre is not palatable at all. It smacks of government wickedness and insensitive to the plight of the long suffering Nigerians. Why should a government refinery sell above the price of Dangote refineries which is N970 per litre and it’s a private venture.

It is on that note that we suggest a price of not more than N500 per litre of fuel and if the government has the interest of the people in mind coupled with enough political will it is achievable.

The lazy argument that a reduced or ‘cheap’ fuel price will make for smuggling of the product outside our neighbouring countries should not come in at all. Nigerians should not suffer for ineptitude and inefficiency of the security agencies who should protect our borders to curb the smuggling.

Nigerians should be allowed to enjoy the benefits of the natural resources God has bestowed on them and not have any flimsy excuse not to enjoy it.

It is heartbreaking that countries that don’t have crude oil deposits still buy fuel at a cheaper rate than Nigeria. Recent investigations shows that in Atlanta in the United States of America people buy fuel at a cheaper rate than in Nigeria. It was even further revealed that state governments subsidize fuel for its citizens. This is a country that is not as naturally endowed with crude oil when compared to Nigeria.

On a more serious note it is our candid suggestion that the Tinubu led government should take a bold and critical look at the four refineries in the country namely Kaduna, Warri, Eleme, Portharcout refineries and take a patriotic stand on them.

Should Nigeria continue to expend billions of dollars in turn around maintenance of these refineries with no positive result for years and till eternity. If it were a one man business will the owner be pumping in money in the refineries without equivalent pumping out of products for profit.

To us this is the time to sell off these refineries as the money expended on its maintenance all these years is enough to build one or two modern state of the art refineries.

The government should stamp its feet on the ground and confront the cabals particularly those hawks in NNPC who may not be happy to see to the functioning of these refineries. To them one thing must spoil in the refineries for them to be cashing out not only in the so called turn around maintenance but also making importation of fuel the only available option.

If the right thing is done it is our fervent believe that the oil sector in Nigeria will live up to its billing and there will be not only abundance of petroleum products in the country but prices of fuel will drastically come down as moderate fuel price will regulate and reflate the economy and make life better and easier for the suffering Nigerians.