‘You Have Dealt A Death Blow To Oil Cabals’, Otedola Lauds Dangote
Otedola said with petrol now rolled out by the Dangote Refinery, the days of Nigeria bowing to foreign powers for our fuel needs are over.
“You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long. The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination
The NNPC cried out recently because it can no longer sustain the price differential on its balance sheet without becoming insolvent. The situation has greater implications for the ability of the three tiers of government to function as the NNPC has failed to pay into the Federation Account, the money that should go to the government
There are no easy choices. Something must be done to make NNPC survive, keep the engines of government running and petrol flowing at the pumps. That is the scenario that is unfolding and the game changer and big relief giver may well be the Dangote refinery and other local refineries which will become the fuel suppliers to the local market. When Dangote Refinery and other refineries, including government owned Port Harcourt Refinery, come fully on stream, our country and economy will benefit on all fronts. There will be many good paying jobs that will be created along the value-chain. There will also be a drop in the huge demand for foreign exchange to import petroleum products. Let’s us first thanks Almighty God for making it possible for our indiginious private refinery start production on petrol for the first time for over 50 years back. As Dangote and Otedola made a statement that for granting NNPCL to supply dangote refinery crude oil in naira not in dollars will reduce our nation forex need to 40% which will bring more value to our nation currency and bring stable economy development into our nation. Some people’s have now complaining about the new petrol pump price release by NNPCL which is not acceptable to Nigeria citizens or masses but I’ll urge or advise us to complain in a normal way to govt not by abuse or attacking the authority because the crude oil dangote refinery use to produce the first batch of the petrol was imported from USA when some oil mogul / cabals that benefits from the oil subsidy don’t want dangote refinery to produce petrol. It’s until president Tinubu gave an order to NNPCL to supply crude oil to dangote refinery in naira not in dollar currency may be when Dangote refinery roll out the 2nd batch with our nation crude oil in naira may be the petrol price will be reduce or slash like how diesel price was reduce or slash gradually from 1,900 to 1,000 naira.