President Bola Ahmed Tinubu has assured Nigerians that the country’s refineries will return to operation, saying his administration is working on a broader restructuring of the economics surrounding the facilities.
Tinubu gave the assurance on Thursday when he received the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), led by its National Executive President, Comrade Salimon Akanni Oladiti, at the Presidential Villa in Abuja.
The President said the government was not interested in merely having refineries produce smoke or show signs of activity without generating meaningful economic value.
He stressed that the facilities must be commercially viable and capable of delivering the benefits for which they were established.
“The refineries you mentioned are going to come back to work. We’re just building a very firm reset and structural reworking of the economics of it. Ordinary flame and smoke from a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it was built.”
His comments come amid continued efforts by the Federal Government to increase domestic refining capacity and reduce Nigeria’s reliance on imported petroleum products.
Tinubu also said his administration had accepted the responsibility of fixing problems inherited from previous governments.
“I’m not a man who will look back and blame everyone, because I’ve accepted the assets and liabilities of my predecessors. No matter what happened in the past years, it’s my responsibility now as President to fix it and make it work for the greatest common good of our population. I take responsibility for that, and I’m going to do it.”
The President further linked the administration’s petroleum sector reforms to the removal of the petrol subsidy in May 2023.
He recalled that the decision was opposed by sections of the labour movement at the time, with concerns that the policy could trigger severe economic hardship and industrial action.
Tinubu said he had nevertheless remained committed to the policy, arguing that the resources previously committed to subsidising petrol could be redirected towards other areas of the economy.
“We had threat of possible strike and something, and I served notice; you may strike all you want, but fuel subsidy will be gone. And today, to the benefit of our great country.”
According to him, the government would soon provide details on how the funds saved from the subsidy removal were being utilised.
“I will soon publish how it is being utilized,” he said.
The President said the impact could already be seen in the ability of governments at different levels to meet their salary obligations and finance major infrastructure projects.
He specifically mentioned several road projects, including the Lagos-Ibadan, Abuja-Kaduna, Abuja-Kano and Sokoto-Badagry highways.
“Yes, the economy is not child’s play. It’s a system of financial re-engineering and reset that you impress, and I want to thank you for the cooperation, collaboration and understanding.
“But I’m glad you have seen the effect of being able to find funding for long-term projects: Lagos–Ibadan Road, Abuja–Kaduna, Abuja–Kano, Sokoto–Badagry and other highways and road networks. It’s all for the good of our people and our economy.”
Tinubu also expressed concern about the way the benefits of Compressed Natural Gas are being passed down to Nigerians.
The Federal Government has promoted CNG as part of its response to the removal of the petrol subsidy, particularly because of its potential to reduce transportation costs.
Several CNG infrastructure projects have been commissioned as the government pushes for wider adoption of gas-powered vehicles.
In May 2026, Tinubu commissioned four CNG-related projects in Lagos, Abuja and Owerri as part of efforts to expand domestic gas utilisation and reduce transport costs.
However, the President said the financial benefits were not reaching ordinary commuters quickly enough.
“Equally, the introduction of compressed natural gas — well, I will appeal to you: we will do more and encourage you, but ask your drivers to let the benefits trickle down to commuters too, because whatever benefit is coming from CNG is going into the pockets of truck owners. It’s not spreading as fast as I would like, but it should spread.”
The President also told the NUPENG delegation that the union remained an important stakeholder in the country’s economy.
“You occupy a very critical nerve of the economy of this country,” he said.
Tinubu acknowledged the difficulties associated with implementing economic reforms in a democratic system.
He, however, said his administration remained committed to achieving its objectives.
“It’s not easy to manage a democratic regime, full of twists and turns, hills and valleys. But through perseverance, endurance and good determination we can bring about relief — like the joy of a newborn baby after a difficult pregnancy. Motherhood is painful, but the joy is everlasting. I promise you, you will enjoy a better Nigeria.”
Earlier, the NUPENG president used the meeting to raise concerns about the treatment of workers in the oil and gas industry.
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