As Dangote refinery prepares to commence production by the end of July or August, with many Nigerians anxious to know how the project would impact fuel price, the former Group Executive Director of Sahara Group, Tonye Cole, has explained why Nigerians should not expect a cheaper pump price when Dangote refineries begin full production.
Speaking on a television programme on Wednesday, Cole noted that the refineries will have little impact on pump prices because each time they need maintenance, some parts will be imported due to Nigeria’s heavy dependence on imports.
Tonye Cole also stressed that even if Kaduna, Warri, and Port Harcourt refineries are operating, it will not reduce fuel pump prices in the country.
Cole, who is the governorship candidate in Rivers State under the All-Progressives Congress (APC) stressed that for Nigerians to enjoy cheaper fuel, one of the first actions is to make the country productive.
According to him, when there is less forex demand driven by import culture the country will begin to advance.
He, therefore, called on the Nigerian government to invest heavily in creating manufacturing bases in places like Kaduna, Kano, and Aba to ease the pressure for importation.
