President Bola Ahmed Tinubu has reiterated indications of imminent local refinery operations for the production of petroleum products.
This renewed statement follows his earlier declaration upon assuming office, wherein he announced plans for the Port Harcourt refinery to recommence operations by December 2023.
During the 11th Convocation ceremony of the Michael Okpara University of Agriculture Umudike (MOUAU) over the weekend, President Tinubu provided insights, expressing confidence that the prevailing high cost of fuel would significantly decrease once the local refineries commence operations.
“Very soon, some of our local refineries will start production, and the current exorbitant prices of fuel energy will be greatly reduced,” he said.
The President, who was represented by the Executive Secretary, Agricultural Research Council of Nigeria, Professor Garba Sharubutu, acknowledged the prevailing economic hardship in the country but assured that it would soon subside.
He appealed for patience and continued support from Nigerians for his administration as efforts were made to address the challenges in the country.
“Bear with us and remain resolutely in support of this administration, as we would leave no stone unturned in reversing the severe hardships that our people are currently passing through.
“Part of the supplementary budget that the Parliament has approved will be applied to bring interventions to critical segments of the agricultural sector.
“The burden of insecurity is clearly a major challenge in Nigeria, but I assure you that in no distant time, it will become history.”
The President tasked the universities of agriculture in the country with rising to the challenges of food scarcity.
