Former Bayelsa lawmaker and the CEO of Silverbird Group, Ben Murray Bruce, has advised the President Bola Tinubu-led government to legalize the operations of illegal refineries in the country, suggesting that they meet the energy needs of many Nigerians.
Making this call in a clip posted on his official X account on Monday, Bruce urged President Tinubu to provide operators of the illegal refineries with guaranteed bank loans and supervise the transformation of such refineries instead of destroying the facilities.
Vox9ja reports that Bruce argued that a significant number of illegal refineries contribute about 20 per cent of the diesel, kerosene, and petrol supply to some local communities.
“A significant number of illegal refineries operate, contributing nearly 20% of the diesel, kerosene and petrol supply to some local communities,” Bruce said.
“Although their method of production maybe considered crude and illegal by the government, these refineries play a crucial role in meeting the energy needs of many people, rather than destroying these facilities, I am yet again proposing a more progressive approach, the government should provide such operators with guaranteed bank loans and supervise the transformation of these illegal refineries into technology-driven modular refineries, thereby increasing refining capacity and meeting up a large percentage of the country’s petrol production demands,” he added.
Story continues below advertisement
His comment comes amid plans by Dangote refineries to commence operations. Before now, Nigeria had always sent out its crude oil for refining, which made the price of fuel and diesel decided by the dollar.
© 2023 Vox9ja, a division of Polance Media Inc.