Many private investors are not motivated to establish refineries in Nigeria because of the continued subsidy on Premium Motor Spirit, popularly known as petrol, the Federal Government has said.
In the document, the PPPRA said, “In the last decade, Nigeria has issued refinery licences to private companies with the hope that the new refineries will help boost local production and supply of petroleum products. “Most importantly, it will free up funds for more socially beneficial investments that will improve the quality of life of the masses and put the country back on track to meet its development goals.”
Give them written assurance to end subsidies as soon as at least ten large capacity or 20 refineries are completed. Since you say that is problem. Show us that truly subsidy exist genuinely & we r nt financing corruption.
Fulani Government. FG