President Bola Tinubu has pledged to restore state-run oil refineries to functional, profitable status through strategic structural reforms. During a meeting at the Presidential Villa with NUPENG leadership, headed by Sulaimon Oladiti, Tinubu explained that his administration is committed to making these assets economically viable rather than just operationally active.
Addressing the inherited liabilities of the oil sector, the President emphasized his duty to rectify past failures for the benefit of all citizens. He further highlighted the administration’s plan to grow the Compressed Natural Gas (CNG) initiative to lower transport expenses. He encouraged transport owners to ensure these cost-saving benefits reach the general public directly.
Tinubu defended the removal of fuel subsidies, noting that the resulting savings are currently funding major infrastructure projects, including the Lagos-Ibadan Expressway and the Abuja-Kaduna-Kano road. He called for public patience, describing democratic progress as a process requiring long-term sacrifice.
Meanwhile, NUPENG President Sulaimon Oladiti requested government intervention regarding the rise of casual labor in the oil and gas upstream sector. Oladiti also expressed support for the refinery rehabilitation efforts and urged the government to prioritize the upgrade of the Nigerian Pipelines and Storage Company depots.
