A member of the Lagos State House of Assembly representing Ifako-Ijaye constituency, Hon. Temitope Adewale, has praised President Bola Ahmed Tinubu’s administration for achieving what he described as a landmark breakthrough in Nigeria’s energy sector the revival of local fuel refining.
In a statement issued following a recent visit to President Tinubu in Lagos, Adewale declared, “For the first time in many years, we now have refineries that are refining fuel for local consumption.” He emphasized that this marks a historic turning point for Nigeria’s energy independence after decades of relying heavily on imported petroleum products.
According to Adewale, the restoration of local refining capability is not merely a technical achievement but a move that carries profound economic and symbolic significance. “This development is not only about fuel; it is about national dignity, job creation, and economic self-reliance,” he stated.
The lawmaker commended the Tinubu administration for taking decisive steps rather than offering empty rhetoric. “It shows the administration is focused on solving long-standing problems, not just making announcements,” Adewale said, describing the revival of local refineries as evidence of genuine structural reform.
He further noted that boosting domestic refining will ease pressure on Nigeria’s foreign exchange reserves, reduce the costly burden of fuel subsidies, and help stabilize local fuel prices. “We’ve watched our economy bleed for decades through fuel imports. What we’re seeing now is the beginning of a turnaround,” he stressed.
Adewale also lauded Tinubu’s broader economic initiatives, including the promotion of technical and vocational education, improved revenue allocations to states, and active measures to attract foreign investment. These, he said, are laying the groundwork for sustainable development.
Highlighting Nigeria’s sharp decline in foreign investment (from $2.2 billion in 2014 to just $470 million in 2022) Adewale argued that the dysfunctional energy sector had been a major contributor to investor hesitancy. “The energy sector was key to that decline, and this step helps reverse the trend,” he explained.
Calling for unity and patience, the lawmaker urged Nigerians to continue supporting the administration’s efforts. “Progress is here. We’re seeing the signs. We must now consolidate on them to achieve lasting prosperity,” he concluded.
The recommissioning of Nigeria’s refineries, long seen as a litmus test for meaningful reform in the energy sector, could mark the beginning of a new era for Africa’s largest oil producer one defined not by import dependency, but by domestic capacity and self-reliance.
SOURCE: Nigerian Tribune/Opera