Dangote refinery will give us additional savings on foreign exchange– Peter Obi
Mr Peter Obi, the 2023 Presidential candidate of the Labour Party has commended the initiative behind Dangote Refinery.
Addressing journalists during the commissioning of dangote refinery, Obi said, “For me, the project contribution is immeasurable. It is immeasurable to our economy.
“It is immeasurable to our country Nigeria and to Africa. Because if you look at one of the biggest drain to our foreign exchange which is affecting our reserve and exchange rate is our foreign exchange.
“This will impact positively into our being able to have additional savings to our foreign exchange and rebuilding our reserve which will go a long way in impacting on our rate.
Asked his thought on the resultant effect of the refinery on price of fuel in Nigeria, he Mr Obi said it didn’t matter if the price comes down or stay where it is.
He further noted that, “For me it is about availability and being able to turn around the economy where this can contribute in using the resources we are going to save in other areas in order to propel moving the country from consumption to production.”
Download ROYAL NEWS app
- No-Man’s Land: Lagos to make laws toprotect indigenes
- Peace Mass Transit says bus fares will not be increased despite fuel price
- Family releases burial arrangements for late AIT/RayPower CEO, Raymond Dokpesi
- Senate rejects controversial Water Resources Bill
- You’ve represented the dynasty excellently, Emir of Ilorin tells Prof. Gambari
- Tinubu gets Senate’s approval to appoint 20 Special Advisers
- EFCC to arraign 20 internet fraudster suspects in Kwara
- NLC, TUC pictures from Aso Rock Villa
- Iyabo Ojo slammed with ₦18M tax by Lagos Govt, she reacts
- Oluremi Tinubu steps into First Lady’s office