Senate President Godswill Akpabio has announced that Nigeria is on track to become self-sufficient in Premium Motor Spirit (PMS) production within the next four weeks.
Speaking at the South-South APC conference in Calabar, Cross River State, Akpabio revealed his optimistic forecast based on recent surveillance of various refineries, including the Dangote refinery.
“By July 2024, Nigeria is about to become self-sufficient in the production of PMS,” Akpabio stated. He noted that the country is already exporting diesel and other products such as fertiliser and urea.
The Senate President praised President Bola Tinubu’s decision to remove fuel subsidies, acknowledging the temporary hardships but assuring citizens that relief is on the horizon. “We are getting to that era in the country where we produce what we consume and consume what we produce,” he added.
Addressing concerns about the economy, Akpabio described the current situation as a “foamy economy” but highlighted President Tinubu’s commitment to improvement. He quoted the President as saying, “I cannot complain; I campaigned and danced for this job, so I must do it and I must do it well.”
Akpabio also touched on ongoing minimum wage negotiations, stating that they would conclude soon, with outcomes expected to satisfy Nigerians.
This announcement comes amidst economic challenges and public concern over fuel prices following the subsidy removal. The government’s projection of imminent fuel self-sufficiency could potentially alleviate some of these concerns if realised.
