Nigeria’s pursuit of self-sufficiency in oil production necessitates the National Association of Nigerian Students (NANS) urging the federal government and the Nigerian National Petroleum Corporation Limited (NNPCL) to swiftly address the dilapidated state of the nation’s refineries. Concrete measures must be taken to mend these faulty establishments, as this remains the only path to achieving the desired outcome. A statement was issued by the National Senate President of the National Association of Nigerian Students (NANS), Elvis Ekundina.
In the statement, the leading students’ association’s national authority voiced its concern over the deteriorating foreign exchange crisis in Nigeria. The association bemoaned how the ongoing importation of petroleum products is exacerbating the situation. The student body representing Nigerian Students made a compelling case as it stated that Nigeria’s path towards ensuring rapid economic growth in the country would be hindered if it refuses to desist from its habit of importing petroleum products from foreign nations.
There is a need to ensure full functionality of the nation’s refineries.
Also, the association emphasized the imperative for the federal government to tackle the ongoing energy crisis, which has emerged due to an acute scarcity of petrol within the Nigerian market. They insisted that resolving this issue involves not only repairing the nation’s refineries but also ensuring their operation at full capacity. NANS asserts that if the country’s refineries function in an effective and efficient manner, they have the potential to cater to the nation’s daily consumption of petroleum products.
The Senate President of the Nigerian Association of Nigerian Students (NANS) expressed deep sorrow over the aggravation of Nigeria’s energy predicament subsequent to the elimination of fuel subsidy by the national government in the month of May, 2023. This unwelcome alteration consequently resulted in upsurges in the cost of petrol at fuel stations. He firmly believes that the most effective solution to rectify this situation would be to ensure the full functionality of the nation’s refining facilities.
This will provide a solution to the energy challenge of the country.
If Nigerian refineries were to operate at their maximum potential, he contended that there would be no need for the country to import fuel, given its status as an oil-producing nation. According to the Senate President of the National Association of Nigerian Students (NANS), Nigeria needs put some things in place if it desires to put an end to the unfavourable consequences of importing petroleum products, such as the depletion of foreign exchange reserves and the loss of employment opportunities.
One of such is that it must prioritize the restoration of its own refineries using the expertise of its citizens. NANS holds the conviction that by restoring and reactivating Nigeria defective refineries to reach their highest production capacity, leaders will find a solution to the energy predicament faced by the country. Furthermore, the current predicaments encompassing the nation’s foreign exchange and the deteriorating state of the national currency will be effectively tackled through this solution.
Collaboration between Nigeria refineries & Dangote refinery.
Additionally, the resolution of Nigeria’s fuel scarcity and pricing issues will come to fruition once the country successfully restores and effectively utilizes its refineries by repairing them. NANS is optimistic about the synergistic operation of the country’s refineries alongside the Dangote refinery, as this promising collaboration has the potential to transform Nigeria into a significant exporter of refined petroleum products. Furthermore, this mutually beneficial partnership will contribute to maintaining stability in fuel prices, he expressed with confidence.