Tinubu assures NUPENG refineries’ll return to profitability

PRESIDENT Bola Tinubu has assured the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) that his administration will continue with efforts to rebuild the economy and ensure Nigerians benefit from its reforms.

Tinubu gave the assurance on Thursday when the leadership of NUPENG, headed by its president, Salimon Oladiti, visited him at the Presidential Villa in Abuja.

The president described NUPENG as a critical part of the Nigerian economy and praised the union for supporting his administration, recalling discussions with the union on fuel subsidy before he assumed office.

According to Tinubu, removing the subsidy was necessary to correct economic distortions and free government resources for investments capable of generating long-term benefits. He added that the government would soon release details on how the savings from subsidy removal had been spent.

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The president dismissed claims that the reforms were designed to hurt ordinary Nigerians, saying the restructuring of the economy would ultimately benefit workers, households and businesses.

He described the measures as a process of ‘financial reengineering and reset’ aimed at creating a stronger foundation for sustainable economic growth.

Tinubu also called on petroleum transport operators to ensure that savings from the Nigerian government’s compressed natural gas (CNG) initiative are reflected in lower costs for commuters.

He said the benefits were currently reaching truck owners faster than passengers and urged operators to ensure that the savings spread across the transportation chain.

The president further said the government was committed to bringing Nigeria’s refineries back into operation and ensuring that they become profitable.

He stressed that simply seeing flames or smoke from a refinery should not be regarded as proof that the facility is functioning effectively.

“The refineries that you mentioned is going to come back to work,” Tinubu said, adding that the facilities must operate profitably and deliver the value for which they were established.

Tinubu said he had accepted responsibility for the assets and liabilities inherited from previous administrations and was determined to address the country’s challenges.

He also pointed to major infrastructure projects, including the Lagos-Ibadan, Abuja-Kaduna and Abuja-Kano roads, as well as the Sokoto-Badagry corridor, as part of efforts to stimulate economic activity and improve public safety.

Earlier, Oladiti asked the president to address the continued casualisation of workers in Nigeria’s oil and gas industry, particularly in the upstream sector.

He described the practice as unhealthy and said discussions with some oil companies had failed to resolve the issue.

According to him, NUPENG and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) had been cautious about taking industrial action because of the potentially damaging impact of disruptions in the strategic oil and gas sector.

Oladiti urged Tinubu to intervene and end the practice, saying previous engagements with affected companies had not produced the desired outcome.

The NUPENG president also commended the government for rehabilitating and expanding federal highways, citing the Lagos-Calabar Coastal Highway and Sokoto-Badagry Superhighway as projects that could improve transportation and reduce road accidents.

He said better roads would improve the safety of petroleum workers and other road users while reducing fuel spillages, accidents and fatalities.

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Oladiti further asked the government to extend its refinery rehabilitation programme to ageing depots operated by the Nigerian Pipelines and Storage Company (NPSC).

He proposed that the depots be transferred to private investors through equity arrangements to restore them to full operation.

The union leader also called on Tinubu to strengthen grassroots development by ensuring that state governments comply with the Supreme Court judgment on the financial autonomy of local governments.