ABUJA (SUNDIATA POST)- The Democratic Front (TDF), a political group, has advised Nigerians to continue to show understanding and perseverance in the face of current economic challenges.
The Chairman of TDF, Malam Danjuma Muhammad, who gave the advise in a statement on Thursday in Abuja, gave assurance that better days were ahead.
Muhammed said that the current high cost of living was transitional and temporary.
He commended President Bola Tinubu for the commencement of full operation by Dangote Petroleum Refinery, saying that the feat would go down in history as one of his worthy legacy.
He argued that the “pro-business” approach of the Tinubu administration was a determining factor in bringing the refinery into the final completion.
He applauded Tinubu for creating the enabling business environment which paved the way for the refinery to fully begin operations.
Muhammad said TDF found the achievement laudable, considering the fact that efforts by successive administrations to birth the operations of private refineries did not yield results.
“Even though the price per litre of fuel is still inconsistent with the yearning of the people who had hoped for more comfort.
“We are confident that it will reduce significantly when profit-driven competition commences between domestic refineries when they all become fully operational.
“For us, the effort made by Tinubu to disentangle the nation from the clutches of fuel subsidy regime which almost crippled the country’s economic growth and prosperity in the last 40 years is commendable.
“It aptly underscores his pedigree of selfless and patriotic service to the nation,” he said.
He said that Nigeria’s dream for private ownership of petroleum refineries had over the years been hampered.
This, he said, was not by the absence of potentials in the organised private sector, but for lack of political will on the part of previous administrations, particularly governments before 2015.
According to him, past governments failed to deploy pro-business policies that will create the enabling environment for a sustainable profit-driven refining business to thrive.
Muhammad said that Tinubu’s enormous knowledge of the capacity and untapped potentials of the Nigerian private sector was largely responsible for his bold decision to dismantle every barrier of protectionism and bureaucracy.
He said the president deserved commendation for ensuring that private refineries in the country do not suffocate under the pressure of foreign exchange by approving the sale of crude oil to them in the local currency.
He expressed optimism that the advent of private petroleum refineries would galvanise a change in the existing paradigm between the petroleum market in Africa and the world.
He congratulated the president for finding the courage to toe the difficult path that previous administrations and politicians would naturally avoid.
“It takes patriotism and statesmanship to subjugate political ambition to collective national interest, as Tinubu has done with his forward-looking economic reforms.
“We urge Nigerians to continue to show understanding and perseverance in the face of economic challenges as the current high cost of living is transitional and temporary.
“The rollout of petrol by Dangote Refinery signifies the end of the difficult transition from the era of unsustainable regulated petroleum market to the sustainable private sector- led production.
“The upcoming competition in the market and the Federal Government’s decision to invest heavily in Compressed Natural Gas (CNG) will provide alternative energy for transportation,” Muhammad said.
He added that this would reduce the high cost of living in the next few months.(NAN)