‘Just Pray For our Refineries Not to Work’ Tinubu’s Appointee Urges Nigerians

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, issued a warning to Nigerians during The Platform’s Independence Anniversary event held in Lagos on Monday. Oyedele urged citizens to hope that Nigerian refineries do not become operational, cautioning that the cost of petrol in the country could skyrocket if inefficiencies in refinery management are not addressed.

Oyedele explained, “Nigerians would say if only our refineries were working, then we’ll be fine. Nothing can be farther from the truth than that. In fact, Nigerians should come together and say please make sure that our refineries don’t work. We should sell them.”

He further emphasized that unless the nation deals with its inefficiencies in refinery operations, the price of one litre of petrol in Nigeria could become the most expensive in the world if domestic refineries process crude oil. This, he argued, would effectively replace the subsidy at the pump with a subsidy for the refineries themselves.

Oyedele’s comments come in the wake of revelations by the National Assembly, which disclosed that over N10 trillion had been spent on maintaining Nigerian refineries, despite their failure to produce any significant output.

Nigerians are now left pondering the future of their country’s energy sector and the potential consequences of refinery inefficiencies on their daily lives and finances.