Tinubu to accelerate local refining of petroleum products

Admin I Monday, Jan. 01, 2024

ABUJA, Nigeria – President Bola Tinubu has said he will accelerate local production of petroleum products in the new year through the Dangote and Port Harcourt Refineries.

Tinubu who was delivering his new year message to Nigerians said he will implement a new national minimum wage for industrious workers.

He also promised to improve power supply.

 

“Just this past December during COP28 in Dubai, the German Chancellor, Olaf Scholz, and I agreed and committed to a new deal to speed up the delivery of the Siemens Energy power project that will ultimately deliver reliable supply of electricity to our homes and businesses under the Presidential Power Initiative which began in 2018.

“Other power installation projects to strengthen the reliability of our transmission lines and optimise the integrity of our National grid are ongoing across the country. My administration recognises that no meaningful economic transformation can happen without steady electricity supply.

“In 2024, we are moving a step further in our quest to restart local refining of petroleum products with Port Harcourt Refinery, and the Dangote Refinery which shall fully come on stream.

“To ensure constant food supply, security and affordability, we will step up our plan to cultivate 500,000 hectares of farmlands across the country to grow maize, rice, wheat, millet and other staple crops. We launched the dry season farming with 120,000 hectares of land in Jigawa State last November under our National Wheat Development Programme.

“In this new year, we will race against time to ensure all the fiscal and tax policies reforms we need to put in place are codified and simplified to ensure the business environment does not destroy value.

“On every foreign trip I have embarked on, my message to investors and other business people has been the same. Nigeria is ready and open for business”, he said.

Tinubu said he will work diligently to make sure every Nigerian feels the impact of the government.

“The economic aspirations and the material well-being of the poor, the most vulnerable and the working people shall not be neglected.

New minimum wage

It is in this spirit that we are going to implement a new national living wage for our industrious workers this new year. It is not only good economics to do this, it is also a morally and politically correct thing to do.

I took an oath to serve this country and give my best at all times. Like I said in the past, no excuse for poor performance from any of my appointees will be good enough.