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'Private Refineries, Key to Fuel Availability' From Agaju Madugba in Kaduna Group Managing Director of the Nigerian National Petro-leum Corporation (NNPC), Mr Funsho Kupolokun, has hinged the regular availability of petroleum products to the establishment of private refineries. Kupolokun, who spoke yesterday in his message at a public seminar organised by the National Orientation Agency (NOA), regretted that the Federal Government had already spent over $485 million towards rehabilitating the nation's refineries. He noted that local production from the four refineries cannot meet the country's demand of about 30 million litres of fuel per day. According to him, without due liberalisation of the oil sector, the NNPC may eventually thread the path of the moribund Nigeria Airways, adding that liberalisation would create more jobs, as well as a competitive environment. Kupolokun said, "with private sector participation in the building of refineries, the nation's oil needs would be met with ease," warning that prices of petroleum products would continue to rise, and that price of crude in the international market has tended to go up. As he puts it, "Since September 2003, the NNPC has had to compete with others at the world market, and it would be counter-productive to use excess funds from crude oil to subsidise import of refined products, which will lead us to going back to fixing of prices and prevent consumers from benefitting." NOA Director-General, Alhaji Idi Farouk, explained that seminar and briefing was part of an advocacy campaign aimed at promoting dialogue between government and citizens. He said some of the reform programmes of government had had positive impact on various aspects of development. According to Farouk, "for instance, the introduction of monetisation has significantly reduced wastages in government spending, while making more resources available to other vital sectors of the economy. "With emphasis on service delivery, it is salutary to note that public service organisations are now awake to their responsibilities of providing service timely, efficiently and qualitatively," he said. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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