President Bola Tinubu announced Thursday that his administration would restart unfunctional refineries in the country.
He did, however, warn that their success would be determined by productivity rather than sheer activity, as had been the case previously.
Tinubu made the statement while receiving the Executive President of the Nigeria Union of Petroleum and Natural Gas Workers, Salimon Oladiti, and union members at the Aso Rock Presidential Villa in Abuja on Thursday.
Addressing the delegation’s concerns about the long-delayed reactivation of Nigeria’s state-owned refineries, the president stated, “The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economy.
“The ordinary flame and smoke of a refinery don’t mean it’s working until it’s profitable and yields the value for which it is built.”
Tinubu also advised automobile and truck operators who have switched to compressed natural gas to pass on the cost savings to commuters rather than pocketing the entire gain themselves.
He replied, “We will do more. We will encourage you, but ask your drivers to let it trickle to the commuters too, because whatever benefit that is coming from CNG is going into the pocket of truck owners. It’s not spreading as fast as I would like it, but it should spread.”
He linked these agreements to the larger fiscal reset that his administration has been pursuing since 2023, telling the union that the cash currently available for significant road investment is a direct result of that reform.
“I’m glad you have seen the effect of being able to find funding for long-term projects, the Lagos-Ibadan Road, Abuja-Kaduna, Abuja-Kano, Sokoto-Badagry, and many other road networks, all for the good of us, the good of our economy, and the safety of our people,” he stated.
The president of Nigeria, recalling a tense meeting at Akodo Resort in Lagos, stated that he had been upfront with the union about the direction of subsidy policy from the start.
He also stated that no threats of industrial action would force the reinstatement of petrol subsidies. The president said, “You have been a very good partner of the government in progress.
“I’m glad you recall the Akodo Resort meeting. We had a threat of a possible strike, and I told you: you may strike all you want, but the fuel subsidy will be gone. Today, to the benefit of our great country, I will soon publish the utilization of what it is.”
He rejected the notion that subsidy removal had affected the common man, stating that the principal beneficiaries of the reforms comprised ordinary salary workers across every layer of government.
“Who are the people receiving the salaries in the local government administration? Are they not common men and women receiving salaries regularly at the state level? The ordinary people receiving salaries at the federal government regularly—it affects all the market women around us, including your wives,” he said.
Tinubu stated that he accepted full responsibility for restoring the economy, regardless of the state in which he inherited it. He stated, “I’m not a man who looks back at everything, because I’ve accepted the assets and liabilities of my predecessors, no matter what has happened in the years past.
“It’s my responsibility now, as president, to fix it and make it work for the largest common value of our population. I take responsibility for that, and I’m going to do it.”
Tinubu called for continued partnership through the difficulties of governance. “It’s not easy to manage a democratic regime full of twists and turns, hills and valleys. But it’s through perseverance, endurance, and good determination that we can bring about the relief of a newborn baby in a pregnancy.
“Motherhood is painful, but the joy is everlasting. I promise you, you will enjoy a better Nigeria,” the president said.
