President Muhammadu Buhari on Monday in Abuja charged public and private sector leaders in the country to look inward to solve the unique challenges confronting the nation’s socio-economic development.
He gave the charge while declaring open the 25th Nigerian Economic Summit (NES25).
President Buhari, in a statement by the Special Adviser on Media and publicity, Chief Femi Adesina, also pledged that his administration will continue to collaborate with the private sector in designing and implementing developmental projects that will keep Nigeria on track for sustained, inclusive and prosperity driven growth.
Personally, FG has a bigger role to play by driving the private sector. The best way to solve a problem would be to identify the problem. Nigeria’s primary problem would be the stoppage of importation of refined in line with Buhari’s statement.
I had earlier emphasized on it that we were not practising what we are preaching when we borrowed N18 Trillion from China in less than 4 years under APC Government and yet, non of the refineries is functioning.
Nigeria is the only OPEC Country that cannot refine her crude oil. Presently, Nigerians consume about N60 million litres of PMS daily. Which is N60M x N205 landing costs = N12.3 billion daily.
This depicts that NNPC would require an exchange rates of N12.3bn daily to import PMS.
This excludes LPFO, AGO, Aviation fuel, Bitumen, DPK and Lubricants which are byproducts of crude oil.