In a promising development, President Bola Ahmed Tinubu has revealed that several local refineries are on the verge of commencing petroleum product production. He reiterated that the Port Harcourt refinery is slated to resume operations by December 2023, aiming to alleviate the burden of exorbitant fuel prices.
During the 11th Convocation ceremony at Michael Okpara University of Agriculture Umudike (MOUAU), President Tinubu, represented by Professor Garba Sharubutu, Executive Secretary of the Agricultural Research Council of Nigeria, stated, “Very soon, some of our local refineries will start production, and the current exorbitant prices of fuel energy will be greatly reduced.”
He acknowledged the economic challenges but urged patience and support, assuring that the government is working to address the nation’s hardships. President Tinubu emphasized, “Our policy instruments are currently being fine-tuned with the view to dealing firmly with the causes and not the symptoms of the problems.”
Speaking on the challenges of insecurity, he expressed confidence that it would become history, stating, “The burden of insecurity is clearly a major challenge in Nigeria, but I assure you that in no distant time, it will become history.”
Addressing the role of universities in agriculture, the President urged them to drive the transformation of the agricultural sector. He highlighted the government’s commitment to supporting specialized universities and agric-related institutions.
President Tinubu called for collaboration between private organizations and Universities of Agriculture, emphasizing partnerships for mutual benefits in agricultural research. He reassured, “This administration is aware of the myriad of socio-economic and political problems… We are, however, determined to find a lasting solution to the tough times.”
The President extended best wishes to the graduands, encouraging them to contribute to the rapid development of the country. The Vice-Chancellor, Professor Maduebibisi Ofo Iwe, presented statistics for the 8,369 graduates, including 121 first-class honours and 1,941 second-class upper division achievements.
In his valedictory speech, the Best Graduating student, Ikechukwu Nicholas Chukwuka, majoring in Computer Engineering, expressed gratitude for the honor and revealed a remarkable 4.90 Cumulative Grade Point Average (CGPA).
The pre-convocation lecture was presided over by former Minister for Education, Professor Ihechukwu Madubuike, with Professor Joseph Ahaneku delivering the lecture.
This announcement brings hope for a positive shift in the nation’s energy landscape and economic challenges, with the potential impact of reduced fuel prices from local refinery operations.
