For kerosene to be made readily available in the market, the Nigeria National Petroleum Corporation (NNPC) has stated that subsidy has to be removed.
This was the position of the Group Coordinator, Corporate Planning and Strategy, Dr Timothy Okon, yesterday at a presentation he made to the National Conference Committee on Energy led by former Governor of Oyo State, Chief Rashidi Ladoja.
Okon stated that Nigerian refineries are epileptic because they are not cost effective stating that it was impossible for the country to build refineries and sell refined petroleum products at a cost that is deprived of profit.
According to him, nobody would build refineries and sell at a regulated price maintaining that countries like Bourkina Faso, Chad and Niger have become headaches to Nigeria because many Nigerians have had to import refined products from those countries.
He noted that the two year programme for the rehabilitation of the refineries suffered a slack as the expatiates engaged to handle the project were afraid of insecurity in Nigeria. “We are committed to the rehabilitation programme but there is a slack in the programme. The foreigners we engaged are afraid of insecurity,” he said.
The NNPC official also wanted the National Assembly to prioritize and ensure that the Petroleum Industry Bill is passed.
Responding to the presentation of the NNPC staff, His Royal Majesty the King of Nembe Kingdom, Edmond Daukoru, said that Nigeria as a sovereign state has the responsibility of providing social welfare for its citizens noting that there was nothing wrong in ensuring that petroleum products are subsidized for the citizens.
Underscoring the importance of PIB the former Minister of state, Ministry of Petroleum stated that no investor can bring in money into the sector without clarity in the physical terms as well clarity in the legislative structure provided by the PIB.
Irked by the presentation, the chairman of the committee, Senator Ladoja, said lack of efficiency in the system makes it difficult for NNPC to sufficiently guarantee petroleum products to the Nigerian consumers and not subsidy.