SNPM urges FG to stop direct crude oil export

The Southern Nigeria People’s Mandate (SNPM) has called on the Federal Government to set timelines to stop crude export and ensure export of only refined oil products from Nigeria.

The President of SNPM, Chief Augustine Chukwudum, made the call on Sunday in Enugu in a statement issued to the newsmen.
Chukwudum noted that selling or exporting only refined petroleum products explains why other countries richly endowed with crude oil (black gold) are far ahead in their socio-economic advancement.

According to him, why is it difficult for the country to implement compulsory value-chain addition in the oil industry and ensure that the country stops selling crude at a mere give away price?
He said, “The major countries and nation-owned oil corporations ensure that no single drop of crude leaves their country without being converted to finished product and adding value and greater worth to it.

He noted that Nigeria has one of the largest refineries in the world (Dangote Refinery) and other smaller refineries in the country.
Chukwudum, however, said that one wonders why these refineries still complain of “not being supplied with crude to refine”.

“Those denying our local refineries that needed crude; what interest are they promoting?
“Or are they clearly projecting personal greed and enrichment at the expense of the growing poverty and hunger in the land; whereas citizens of other oil rich countries are living in plenty and luxury?
“The country needs to wake up and restrategise with all its natural resources, especially crude oil by value-chain addition.

“God Almighty has been fair to Nigeria and Nigerians in all ramifications, indeed in natural resources availability in commercial quantities,” he said.
Chukwudum said that recent calls for probe on monetary receipts in crude sales are commendable; “but a new and gainful strategise on how to positively deal and develop our crude oil is overdue.”

Source: dailychampion.com

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