In order to tackle Nigeria’s ongoing forex crisis, Delta State Governor, Rt Hon Sheriff Oborevwori, has called for the urgent need to revive the nation’s refineries.
Speaking during a meeting with the Senate Ad-hoc Committee on Turnaround Maintenance of Nigerian Refineries led by Senator Ifeanyi Ubah at the Government House, Asaba, Governor Oborevwori highlighted the potential benefits of functional refineries in saving foreign exchange spent on fuel importation.
Governor Oborevwori emphasized that the cessation of petroleum product importation would alleviate pressure on the naira against the dollar. He urged the Federal Government to expedite efforts in revitalizing the country’s refineries to boost the economy and mitigate challenges with forex.
Senator Ubah, leading the Senate Ad-hoc Committee, echoed similar sentiments, affirming that the refineries would be operational before the year’s end.
He reassured the public of close monitoring to ensure the successful rehabilitation of the refineries, emphasizing the importance of addressing crude oil theft and maximizing the country’s crude oil output.
Additionally, Senator Ubah announced plans to conduct a public hearing on oil theft, aiming to gather insights from communities in the Niger Delta region.
Senator Ubah touched upon the Petroleum Industry Act (PIA), acknowledging the need for its comprehensive implementation. Despite the challenges posed by cultural dynamics and bureaucracy, efforts are underway to ensure the legislation’s effectiveness in the petroleum sector.
