PRESS STATEMENT
From the Office of the President of the Senate, National Association of Polytechnic Students (NAPS)
The Office of the President of the Senate of the National Association of Polytechnic Students (NAPS) wishes to draw the urgent attention of the Federal Government of Nigeria and all relevant stakeholders to the worsening hardship currently being experienced by Nigerian students and citizens following the continuous rise in the price of Premium Motor Spirit (PMS) across the country.
In recent weeks, Nigerians have witnessed a sharp increase in petrol prices, a situation that has further intensified the already difficult economic realities facing the nation. Transportation fares have risen significantly, the prices of food and essential goods have increased, and the burden is being felt most by ordinary citizens and students who depend heavily on public transportation for their daily academic and economic activities.
Economic analysts have linked the latest surge in global crude oil prices to the ongoing geopolitical tensions involving Iran, Israel and the United States. Conflicts in the Middle East historically affect global oil supply chains, particularly through strategic oil transport routes such as the Strait of Hormuz, through which a significant portion of the world’s crude oil supply passes daily. Whenever tensions escalate in this region, global oil prices tend to rise sharply, and countries that rely on imported refined petroleum products inevitably feel the economic shock.
For Nigeria, this situation presents a painful contradiction. Nigeria remains one of Africa’s largest crude oil producers, yet citizens continue to suffer from rising fuel prices because the nation still depends largely on imported refined petroleum products.
At a time like this, Nigeria must deliberately look inward and strengthen its domestic refining capacity.
Today, our country is privileged to host one of the most ambitious industrial projects in modern history, the Dangote Refinery, a world class refinery with the capacity to refine approximately 650,000 barrels of crude oil per day. This refinery stands not only as a symbol of Nigerian industrial capability but also as a strategic national asset capable of transforming Nigeria’s energy landscape.
However, it remains deeply concerning that despite Nigeria’s vast crude oil resources, domestic refineries sometimes struggle to secure adequate crude supply, forcing them to consider importing crude from other countries. This situation defeats the entire purpose of establishing local refining capacity.
The position of Nigerian students is clear and unequivocal.
If Nigeria is blessed with crude oil and also possesses a world class refinery capable of refining that crude locally, then priority must be given to supplying our crude to that refinery for the benefit of Nigerians.
The Office of the President of the Senate of NAPS therefore strongly calls on the Federal Government of Nigeria to ensure that maximum and consistent crude oil supply is allocated to the Dangote Refinery and other local refining facilities within the country.
With adequate crude supply, the Dangote Refinery has the capacity to refine petroleum products domestically and supply them directly to the Nigerian market. Once this is effectively implemented, Nigeria would significantly reduce and potentially eliminate the need for fuel importation.
More importantly, there would be no reason for a Nigerian refinery to import crude oil from other countries while Nigeria itself remains one of the largest producers of crude oil in Africa.
Prioritizing crude supply to local refineries will deliver immense benefits to the nation, including:
• Stabilization of fuel prices within the domestic market
• Reduction in the pressure on Nigeria’s foreign exchange reserves
• Strengthening of the national economy
• Expansion of local industrial capacity
• Job creation and economic growth
• Protection of Nigerians from the economic shocks of international conflicts
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Nigeria must not continue to suffer the consequences of global geopolitical tensions when the country possesses both the resources and infrastructure needed to meet its domestic energy demands.
At this critical moment, Nigerian students appeal passionately to the Federal Government to look carefully into this matter and adopt policies that will place the welfare of Nigerians at the center of national energy decisions.
By prioritizing crude supply to local refineries, particularly the Dangote Refinery, Nigeria will not only ease the hardship currently faced by millions of citizens but will also strengthen the national economy, empower local industries, and move the country closer to true energy independence.
Nigeria has the crude.
Nigeria has the refinery.
What remains is the commitment to ensure that these national resources are fully utilized for the benefit of the Nigerian people.
The Office of the President of the Senate of the National Association of Polytechnic Students remains committed to advocating policies that promote economic stability, industrial growth, and a better future for Nigerian students and citizens alike.
Signed
Comrade Oyewumi Festus Ayomide
President of the Senate
National Association of Polytechnic Students (NAPS)
