Tuesday, December 1, 2020

PMAN seeks establishment of modular refineries to solve problems in the oil sector

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A panacea to the lingering fuel crisis in Nigeria is the establishment of Modular Refineries in stategic Operational base across the country.

The Ondo State Vice Chairman, Independent Petroleum Marketers Association of Nigeria Mr. Idowu Adebusuyi made the suggestion while speaking on the recent increase in the price of premium motor spirit known as petrol.

He urged the federal government to also look into all the bureaucratic bottle necks barring potential investors in the exclusive lists

Orange FM’s Igbekele Ologun who sampled stakeholders’ Opinions in Akure reports that the recent increase in the price of petrol has generated alot of reactions from Nigerians .

The new petrol price of N170 per litre unexpectedly came into effect on Friday 13, Nov 2020 after the ex-depot price rose to N155.17 per litre.

It was an increament that took Nigerians by surprise, having hoped for a downward review.

Some motorists who decried the increament said what Nigerians deserve are measures that would cushion the effects of COVID-19.

Other residents pleaded with the federal government to be more sensitive to the plight of Nigerians.

The state Vice Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Idowu Adebusuyi said the price would still depend on the forces of demand and supply.

Adebusuyi who suggested ways in tackling the situation said the establishment of modular refineries devoid of bureaucratic bottle necks would go a long way in addressing the lingering fuel crisis.

He reasoned that localizing and privatising the nation’s refineries will boost the country’s economy and stabilize fuel price in the best interest of Nigerians.