Oil marketer reveals lasting solution to hike in fuel prices

In the face of mounting frustrations caused by the recent surge in the pump price of fuel, reaching a staggering N617 per litre, Debo Olujimi, the Chief Executive Officer of Emadeb Energy Service Limited, emphasizes that the ultimate and enduring remedy for this issue lies in local refining of the product.

According to NAN, Olujimi disclosed this at the inaugural ceremony of its Ijegun Satellite Depot on Wednesday in Lagos.

According to Olujimi, the persistent escalation in petrol prices will continue to inflict hardships on Nigerians unless there is a deliberate push towards promoting local refining of the product.

He expressed deep concern over the country’s reliance on the US dollar for importing fuel products, which exacerbates the situation further.

“It is a known fact that the increase in the price of petrol has put significant pressure on Nigerians, which we all understand.

“The only way to address the ongoing challenges is for the government to encourage local refining,” he said.

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