Again, Tinubu affirms fuel price will reduce with local refineries beginning soon

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President Bola Ahmed Tinubu has reiterated that fuel scarcity and high price of the commodity would soon be consigned to history.

Tinubu said this is against the backdrop of the commencement of several local refineries in the country.

Also, the President had announced, early at the beginning of his administration, that the Port Harcourt Refinery would recommence operations by December 2023.

Tinubu, who spoke during the 11th Convocation ceremony of the Michael Okpara University of Agriculture Umudike (MOUAU) over the weekend, said the exorbitant fuel price would decrease when the local refineries become operational.

“Very soon, some of our local refineries will start production, and the current exorbitant prices of fuel energy will be greatly reduced,” he said.

The President, who was represented by the Executive Secretary of the Agricultural Research Council of Nigeria, Professor Garba Sharubutu, acknowledged the prevailing economic hardship in the country but assured that it would soon subside.

He appealed for patience and continued support of Nigerians for his administration as efforts were made to address the challenges in the country.

“Bear with us and remain resolutely in support of this administration as we would leave no stone unturned in reversing the severe hardships that our people are currently passing through.

“Part of the supplementary budget that the Parliament has approved will be applied to bring interventions at critical segments of the agricultural sector.

“The burden of insecurity is clearly a major challenge in Nigeria, but I assure you that in no distant time, it will become history,” he said.

The President charged the universities of Agriculture in the country to rise to food scarcity challenges.

“As a nation, we are looking up to the Universities to innovatively drive the transformation of our Agricultural sector to achieve food security and the Sustainable Development Goals,” he said.

He promised that his administration would continue to provide the needed support to specialized universities and agric-related institutions to fulfil their mandate.

The President urged private organizations to collaborate with Universities of Agriculture, fostering partnerships and linkages to enhance agricultural research findings with a mutually beneficial goal.

President Tinubu acknowledged Nigeria’s myriad challenges but emphasized his dedicated efforts to address and resolve them.

“This administration is aware of the myriad of socio-economic and political problems that the citizens of our nation are passing through. We are, however, determined to find a lasting solution to the tough times”, Tinubu said.

“Our policy instruments are currently being fine-tuned with the view to dealing firmly with the causes and not the symptoms of the problems.