Financial Energy Review
The Domestic Refinery Owners Association of Nigeria (DROAN), have thrown their weight behind the Federal Government’s removal of oil subsidy in the country.
The National Chairman of the association, Mr Godwin Sunday, made this known in a press conference organised by the association in Uyo on Saturday.
DROAN chairman said that the association was in full support of President Muhammadu Buhari’s courageous stand in bringing the subsidy regime to an end.
He urged stakeholders in the oil industry and indeed all Nigerians to support the policy and the establishment of modular refineries in the country.
He said that the establishment of modular refineries across the Niger Delta region would enhance youth employment and bring an end to youth restiveness, illegal bunkering, and pipeline vandalism.
“The oil sector, as we all know, has been the major stay of our economy and contribute more than 80 per cent to the growth of our nation.
“Therefore, as responsible citizens of this country, we have seen the need to join hands with the government to protect our major source of sustenance, the crude oil.
“We salute the courage of the Federal Government led by President Muhammadu Buhari for bringing the subsidy regime to an end.
“We applaud the government, and we are also appealing to Nigerians to support the government in this direction.
“We trust that better days are here because the resources that were used for oil subsidy will now be channeled into other developmental projects like education, health, and infrastructure development,” Sunday said.
The national chairman said that the association was deeply concerned over the devastating effect of illegal oil bunkering on the ecosystem.
He said that the association plans to embark on sensitisation exercise against illegal oil bunkering in the country, adding that the association had acquired three-speed boats to penetrate the Creeks for the exercise.
He said, “Considering the devastating effect on our environment, which obviously is leading to environmental pollution, degradation and even a negative effect on our ecosystem.
“We, as a people, have unanimously agreed that we cannot continue to steal what seemingly belongs to us.
“To deepen this commitment, we have acquired three-speed boats with 75 horsepower engine each to enable us to penetrate the creeks to carry out sensitisation exercise tagged; ‘Operation Stop Illegal Bunkering in Nigeria.’”
He appealed to the government to set up a Presidential Committee to look into the activities of artisanal oil refiners in the Niger Delta.
The chairman also appealed to individuals and organisations setting up modular refineries in the country, to partner with the association for easy and smooth integration of the artisanal refiners.
