Fuel
Local refining only option against fuel price vagaries – Oil marketer
The prominent oil marketer and Chief Executive Officer of Emadeb Energy Service Limited, Debo Olujimi, has highlighted local refining of petrol as the only option to tame changes in price of the product.
The marketer’s response was in.line with frustrations associated with the recent hike in the pump price of fuel to N617 per litre by Nigerians.
Olujimi spoke at the inaugural ceremony of its Ijegun Satellite Depot on Wednesday in Lagos.
Olujimi stated that the increase in the price of petrol will continue to harm Nigerians unless local refining of the product is encouraged.
He lamented the continued dependence on the US dollar for the importation of fuel products into the country.
“It is a known fact that the increase in the price of petrol has put significant pressure on Nigerians, which we all understand.
“The only way to address the ongoing challenges is for the government to encourage local refining,” he said.
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