African Refinery Port Harcourt Limited has applauded the newly-installed administration for ending petroleum subsidy and asked Nigerians to be patient during the first few difficult times following the subsidy elimination.
In a statement, Mr. Omotayo Adebajo, Chief Executive Officer of African Refinery, emphasised the importance of supporting the President’s strategic decision, which, in his view, should have been implemented earlier, Punch report.
According to him, the elimination would instantly direct capital for high-impact projects that would benefit the vast majority of Nigerians.
He also said that the subsidy removal initiatives are essential to Nigeria’s efforts to halt petroleum imports and ensure energy security and can only be successful with the Federal Government’s ongoing support.
Adebajo then urged the President to prioritize domestic refinery projects and keep funding them, building on the previous administration’s investments in the Dangote Refinery in Lagos and the African Refinery’s Port Harcourt project.