President Bola Ahmed Tinubu has explained why his administration backed the Dangote Refinery, saying the country could have faced a serious fuel crisis amid ongoing global conflicts without local refining capacity.
Tinubu spoke on Thursday on the sidelines of the 13th Africa CEO Forum in Rwanda, where he stressed the importance of domestic refining to Nigeria’s energy security.
According to him, Nigeria’s population and heavy reliance on petroleum products made it necessary for the government to support projects like the Dangote Refinery.
“Today, with the crisis around the whole world. particularly around conflict, Nigeria wouldn’t be able to survive, over 200 million people, without a refinery,” he said.
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The president said the decision to support the refinery was aimed at reducing dependence on imported fuel and ensuring stability in the country’s energy sector.
“A risk-taker like the Dangote Refinery must be encouraged by the government in power. What I did was support him, give him free trade for his own licence, and support him in his efforts to source the crude that is necessary. Today, he is the exporter of both the PMS, aviation fuel.”
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