The Maye Balogun Babalaje of Ibadan land Chief Ayo Folorunso also known as Ayo Onike has told President Bola Ahmed Tinubu to encourage Nigerians to construct modular refineries in the country.
Chief Folorunso gave the advice during the week after noting that the high cost of petroleum pump price has impacted negatively on Nigeria’s economy.
He posited that prices of goods and services have risen to the roof tops while sales have decreased abysmally adding that this is not encouraging business growth and development.
The astute businessman observed that the need for government to repair refineries had been rendered useless because of the propensity of some Nigerians to vandalize refineries equipment and facilities noting that this was further compounded by the corrupt tendencies of the officials of the facility who all want to get rich and cross the rubicon of poverty.
Chief Folorunso explained that he had had to pass the cost of the increment of the fuel increase to the final consumers gradually and making little gains in order to cover over head cost and remain afloat in business.
He observed that Nigerians are finding things very difficult and tough to come by pointing out that what matters now is for the government to encourage the building of modular refineries in order to make fuel available in large quantities to make movement and transportation easy and affordable for Nigerians.
