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Lawmakers advocate creation of more refineries

07 October 2015, 15:24

Abuja - Members of the House of Representatives have thrown their weight behind the licensing of more refineries in the country to ease fuel supply shortages, Punch reports.

In a session that was presided over by the Deputy Speaker, Yusuf Lasun, the lawmakers kicked against the destruction of “illegal refineries” by security agencies, preferring that the operators should be licensed and regulated.

A bill on refineries sponsored by a member from Abia State, Uzoma Nkem-Abonta. passed second reading.

Also read: 65 private refineries get Buhari's approval

He explained that with more refineries operating in the oil industry, Nigeria, a leading crude oil producer, would not need to import petroleum products to meet domestic requirements again.

He stated that the bill seeks to provide a framework of licensing and regulating the oil sector and its advantage is enormous because it would provide youth employment and save the country some foreign exchange spent on oil import.

Read more at Punch

- News 24

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