Aguri Ngelale, the Senior Special Assistant to President Bola Ahmed Tinubu on Public Affairs, has said that having more refineries in Nigeria will not reduce fuel pump prices.
He disclosed this during a recent interview on TVC.
According to him, Nigerians should disregard the myth that more refineries would mean cheaper fuel products.
He, however, explained that having more refineries in Nigeria would save the country the cost that would have gone into importing fuel products.
“That is a myth; it does not happen anywhere in the world; even if we had the most refineries producing the most PMS in the world, you would find that the most prolific PMS producers with their refineries do not charge differently from the countries without refineries. I am not saying that we should not have refineries, but there are benefits to having working refineries”, he stated.
Recall that the federal government said Port Harcourt refinery would be revitalized in December 2023.
Also, the Dangote refinery was inaugurated at the twilight of former President Muhammadu Buhari’s administration.
