A former Minister of Petroleum Resources,
Prof Tam David-West, has denied
newspaper reports, Daily Sun not included,
that Buhari will crash the price of petrol to
N40 per litre.
The Professor of Virology who spoke to Daily
Sun in a telephone interview at the
weekend, said at no time did he ever made
such comment, regretting that he must
have been misquoted.
Rather, he said, he only canvassed that
some 14 items currently listed in the petrol
pricing template be removed as that would
help crash petrol price to N40.
David-West said some of the 14 items
included, Petroleum Equalization Fund (PEF)
charges, transporters margin, lithering
expenses among other charges, currently
contained in the pricing template tend to
increase the cost of petrol.
The former Minister said it was shameful
that Nigeria is still involved in importation
of petroleum products despite having four
refineries capable of meeting the energy
needs of the country.
He equally took a swipe at those pushing for
sustenance of subsidy regime, saying the
scheme was a fraud that should not be
encouraged by all Nigerians.
‘‘I signed the contract for the refinery in
Port Harcourt in 1985. And I can tell you
that there is nothing wrong with our
refineries. But the issue is just that some
people bent on sabotaging the efforts of
government are frustrating plans to ensure
that the refineries produce at optimal ca
pacity. David-West equally berated
proponents of the co-locating of refineries,
arguing that such idea was a waste of
‘‘How can you co-locate refineries within the
existing refineries that NNPC has tagged as
scraps? For you to co-locate refineries that
means the refineries still have value and
can be efficient,’’ he said.
Recall that NNPC had recently said that it
was targeting to increase the nation’s
refining capacity from 445,000 barrels per
day(bpd) to 650,000 (bpd)
The Corporation said the move was aimed
at reducing fuel importation in the
foreseeable future, adding that nine
companies have submitted bids for the co-
location of new refineries within the
complexes of its three existing refineries in
Kaduna, Warri and Port Harcourt.
‘‘A technical evaluation committee has been
set up to study the bids and announce
winners as soon as possible,’’the Chief
Operating Officer (COO) of
refineries,NNPC,Mr. Anibo Kragha had said.
Kragha, said the Corporation was
committed to boosting the nation’s refining
capacity which in turn would end the
perennial fuel shortages in the country.
“The aim is to leverage on the existing
facilities to fast track the take off of the
refineries as soon as possible.”
Posted by Monday, April 11, 2016 and have 0 comments, Published at