Energy expert Dan Kunle is urging President Tinubu to put an end to the petrol import racket and prioritize local refining.
Kunle warns that the continued importation of petrol and diesel, despite the Dangote Petroleum Refinery’s capacity to meet domestic demand, is a disservice to the country .
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The Nigerian National Petroleum Corporation (NNPC) and certain marketers spent a whopping N5.5 trillion on petrol and diesel importation in just four months.
Kunle likens this massive importation to the notorious “cement Armada” scandal of the 1970s, where hundreds of cement-laden ships flooded Nigerian ports, causing years of congestion .
Kunle is disappointed that despite President Tinubu’s directive and the Federal Executive Council’s decision to allocate local crude oil to domestic refineries, relevant government agencies are ignoring these directives without consequences .
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He emphasizes that it’s illogical to continue pushing for imports when countries like the United States are protecting their domestic industries to boost their economies.
Kunle believes the Dangote Refinery can ensure energy security, which has been neglected by regulatory authorities for years .
Kunle is calling on President Tinubu to demand a transition timetable from relevant authorities, outlining when Nigeria will shift from being an importer of refined products to a net exporter
He stresses that the Dangote Refinery is a strategic national asset and urges the government to remove obstacles to its smooth operation .
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With the Dangote Refinery’s capacity and the reported revival of the Port Harcourt and Warri refineries, Kunle believes Nigeria should be transitioning from reliance on oil imports to becoming a net exporter of refined petroleum products .