Why Nigeria Cannot Simply Send All Its Crude to Local Refineries, Bolum Explains

Martin Nwachukwu Bolum, chairman of the Integrity Group of Nigeria in Delta State, has urged Nigerians to be patient with the Tinubu administration over rising petrol prices. He said Nigeria’s crude oil cannot be treated as a purely domestic resource because production and sales are shaped by international prices, supply arrangements, regulations and existing commercial contracts. According to him, local refineries need steady crude supplies at commercially viable prices, while the government must also consider export earnings and contractual obligations. He said improving domestic refining could reduce Nigeria’s dependence on imported petroleum products, but a lasting solution will require better production, supply and refining arrangements.

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