President Bola Ahmed Tinubu has reaffirmed signs that the construction of a local refinery to produce petroleum products is soon to begin.
His initial announcement upon taking office, which stated that the Port Harcourt refinery will resume operations by December 2023, was followed by this updated statement.
President Tinubu gave remarks during the weekend’s 11th Convocation ceremony of the Michael Okpara University of Agriculture Umudike (MOUAU). He expressed optimism that the high cost of petroleum now in place would drastically drop once the nearby refineries start up.
“There will be a significant decrease in the current high costs of fuel energy very soon as some of our nearby refineries begin to produce,” he stated.
The President acknowledged the current state of economic difficulty in the nation but gave assurance that it would soon improve. The President was represented by Professor Garba Sharubutu, Executive Secretary of the Agricultural Research Council of Nigeria.
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As attempts were made to solve the issues facing the nation, he issued a plea to Nigerians for their patience and ongoing support of his administration.
“We will stop at nothing to undo the extreme suffering that our people are presently going through. Please bear with us and continue to steadfastly support this administration.”
Critical parts of the agricultural sector will receive interventions through the application of a portion of the supplemental budget approved by the Parliament.
“I promise that in a very short while, the burden of insecurity in Nigeria will become history,” the speaker said.
The President charged the nation’s agricultural universities with meeting the problems posed by food scarcity.
