Oil marketers have said local refining will save at least N70 per litre off petrol price when it is fully operational.
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The National Controller Operations, the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, said this while speaking on the benefits of the Federal Government investing in functional refineries.
He told The PUNCH on Wednesday, that although the contracts for revamping of refineries had been awarded, it would be a great development for repairs to be completed as soon as possible, to ease the stress and huge finance of importation on the country.
He said, “The contract has been awarded already before the new government came into office. IPMAN doesn’t know the context of the contract, but if the refineries are working, it would cut freight and ship-to-ship transfer costs.
“Not less than N60/N70 per litre will be off if the refineries start working.”
Peoplesmind