Refinery Owners Association of Nigeria (DROAN) has expressed support for Federal Government’s removal of oil subsidy.

DROAN National Chairman Godwin Sunday stated this at the weekend at a media briefing in Uyo, the Akwa Ibom State capital.

Sunday said the association supported President Muhammadu Buhari’s “courageous stand” in ending the subsidy regime.

The DROAN national chairman urged stakeholders in the oil industry and other Nigerians to support the policy and the establishment of modular refineries in the country.

He said: “The oil sector, as we all know, has been the mainstay of our economy and contributes more than 80 per cent to the growth of our nation.

“Therefore, as responsible citizens of this country, we have seen the need to join hands with the government to protect our major source of sustenance, the crude oil.

“We salute the courage of the Federal Government, led by President Muhammadu Buhari, for bringing the subsidy regime to an end.

“We applaud the government, and we are also appealing to Nigerians to support the government in this direction.

“We trust that better days are here because the resources that were used for oil subsidy will now be channeled into other developmental projects, like education, health and infrastructure development.”

1 COMMENT

  1. No doubt, the removal of fuel subsidies is needed especially at this time when the government is seriously cash-strapped, due to the effects of COVID-19 on oil prices. It constrains billions of dollars’ worth of annual government funds that can be used in more efficient ways.

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