Godswill Akpabio, the president of the Senate, has asked Nigerians to have patience with President Bola Ahmed Tinubu’s administration, claiming that continuous economic reforms are progressively producing benefits, particularly in the petroleum industry.
Speaking on recent developments, he referenced past fuel scarcity in the country, noting that Nigerians previously endured extreme hardship in accessing petrol. He said, “Since we came on board, we have not had three to five kilometres of vehicles lined up at fuel stations to buy petrol.” He also added, “There was a time Nigerians were ready to pay as much as N10,000 per litre, yet the product was not available.”
According to Akpabio, the current state of affairs is different because gasoline is now widely available throughout the nation, with shorter or nonexistent lines at gas stations. Reforms in the downstream petroleum industry and greater involvement from the private sector, he said, were responsible for this progress.
He went on to say that local refining capacity has been improved by the reforms, reduced dependence on imported fuel, and improved supply stability. According to him, Nigeria is now producing more of what it consumes and even exporting petroleum products.
While noting current economic issues such as inflation and rising living costs, he maintained that the reforms are necessary for long-term stability and growth.
He went on to say that the reforms have increased the capability for local refining.
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