President Bola Tinubu, has again, hinted that some local refineries would soon begin production of petroleum products.
Recall that the President had shortly after assuming office, declared that the Port Harcourt refinery would resume operation by December 2023.
Tinubu, who dropped the hint at the 11th convocation ceremony of Michael Okpara University of Agriculture Umudike, MOUAU, said the current exorbitant price of fuel would crash when the local refineries come on stream.
“Very soon, some of our local refineries will start production and the current exorbitant prizes 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 of 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 at 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.”
