Tinubu Assures NUPENG of Refinery Revival, Says Profitability Is Key
Tinubu Assures NUPENG of Refinery Revival, Says Profitability Is Key
President Bola Ahmed Tinubu has assured petroleum workers that Nigeria’s moribund state-owned refineries will return to operation, stressing that their revival must be driven by productivity and profitability.
Tinubu gave the assurance on Thursday when he received the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), led by its President, Salimon Oladiti, at the Presidential Villa in Abuja.
Responding to concerns over the prolonged efforts to revive the country’s refineries, the President said the facilities would come back to work as part of ongoing efforts to reset and structurally rework the economy.
“The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economy,” Tinubu said.
He, however, cautioned that simply restarting a refinery would not amount to success, saying its performance should ultimately be measured by its ability to generate value.
“Ordinary flame and smoke of a refinery doesn’t mean it’s working, until it’s profitable and yields the value for which it is built,” he said.
The President’s comments come amid continued efforts to restore Nigeria’s domestic refining capacity and reduce dependence on imported petroleum products. He also urged owners of vehicles and trucks converted to Compressed Natural Gas to ensure that the resulting cost savings reach commuters.
Tinubu further assured the union of his commitment to fixing the economic challenges inherited by his administration, while calling for continued cooperation with organised labour.
