If the International market price of crude oil is N15k Dangote and modular refineries exist—Amaechi
According to a report by PM News, published on Thursday, October 1, 2026, the African Democratic Congress (ADC) vice-presidential candidate, Rotimi Amaechi, has said he would not make a definite commitment to restoring Nigeria’s government-owned refineries without first assessing their condition.
Amaechi explained that any decision to rehabilitate the facilities would depend on the state of the refineries, the level of work required and the financial resources needed to return them to operation.
Speaking about the ADC’s proposed energy policy, the former Rivers State governor cautioned politicians against making campaign promises without first understanding the realities they would encounter after assuming office.
He noted that governing a country could present challenges that were not always apparent during election campaigns, adding that political leaders sometimes make commitments only to discover after taking office that the situation is more complex than anticipated.
On the state-owned refineries, Amaechi said an ADC administration would first carry out a proper assessment before determining whether rehabilitation would be technically feasible and financially justified.
Rather than relying solely on government-owned facilities, he also suggested measures aimed at strengthening private-sector refining. According to him, private refinery operators, including those running modular refineries, could receive government support through a policy that would allow them to purchase Nigerian crude at prices below international market rates.
Amaechi used a hypothetical example to explain the proposal. He said that if crude oil were selling internationally for N15,000, the government could make it available to domestic refiners for N10,000, with the N5,000 difference effectively representing government support for local refining.
He argued that such an arrangement could encourage increased domestic production of petroleum products and potentially help bring down fuel prices. In turn, he said, lower energy costs could reduce expenses associated with transportation, food production and other goods and services.
Post a Comment