The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has expressed optimism that local refining of petroleum will reduce the price of petroleum products in the country from their current prices.
The Port-Harcourt Zonal Secretary of the union, Nnanna Okeke, said this on Tuesday in Uyo, while speaking with newsmen during the opening of a three-day retreat organised for the executive leaders of the zone by the Nigerian Content Development and Monitoring Board in conjunction with Facilitation and Training Services Limited.
He said the Federal Government has assured PENGASSAN that the Port Harcourt Refinery would start working by December, adding that fixing the local refineries and providing palliatives were among the demands the association put forward as measures to mitigate the effects of the removal of subsidy on fuel on Nigerians.
He said, “As an association, we are not against fuel subsidy removal. But we requested that if it must be removed, certain measures need to be put in place to mitigate the effects of fuel subsidy removal on the citizens.
“We requested that palliative measures be provided and that the transportation system be improved because workers have to go to work. Another thing we requested is let’s make our refineries work.
“By doing so, we will reduce our dependence on importation of the petroleum products. The Federal Government has assured us that by December the Port Harcourt Refinery will start working.
“So, we believe that when we start refining locally, definitely that will reduce the price of fuel. Those were among the things we put forward. We sympathise with the masses because this is something that is affecting everybody,”
While answering a question regarding what the association would do if the refineries do not start working by December, Okeke said, “We will go back and restrategise. Our leadership at the national level told us that the Federal Government said it would deliver on its promise, so for now, let’s give the government the benefit of the doubt.”
Apart from the Port Harcourt refinery expected to commence production by December, the 650,000 bpd Dangote Refinery is also likely to commence refining of crude oil in December having secured its first consignment of crude oil supply from the NNPC Ltd. It is expected that by third quarter 2024, importation of petroleum products into Nigeria will cease following attainment of local self-sufficiency.