Sunday, April 18, 2021
More
    HomeState of the NationFeaturesRepairing refineries panacea for good 2021 economic prospects, says ex-CBN Director

    Repairing refineries panacea for good 2021 economic prospects, says ex-CBN Director

    By Ige Adekunle
    Sango-Ota (Ogun), Dec. 30, 2020 Dr Titus Okunrounmu, a former Director, Budgetary Department of the Central Bank of Nigeria (CBN), has called on the Federal Government to make concerted efforts at repairing the nation’s refineries for good economic performance in 2021.
    Okunrounmu, who made the call in an interview with the News Agency of Nigeria (NAN) on Wednesday, in Ota, Ogun, said: “The country needs to build and repair its refineries, if it wants to have a good economic performance in 2021.
    He stated that there were no oil producing countries who sold crude oil, only to go abroad and buy refined petroleum products, except Nigeria, saying that once the country stopped exporting crude oil, and began refining, the whole world would come to Nigeria to buy refined petroleum products.
    The former director said besides enabling the country meet its domestic demand for refined petroleum products, the economy would be more buoyant with the revenue in-flow.
    He further said that the by-products like aviation fuel, engine oil, among others, from the crude oil, could be exported to earn foreign exchange for the country, which it can plough back into diversifying the economy, as well as leverage to lift the nation out of recession.

    Naija247news Nigeriahttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
    RELATED ARTICLES

    Most Popular

    Recent Comments

    ‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says – Trump Slump World on ‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says
    FirstBank’s CEO wins ‘Best Chief Executive Officer’ Award – Financial Inclusion Nigeria. on Adeduntan: FirstBank is deepening Nigeria’s financial inclusion through its 31,000 agent network
    NSE Sets to “eRace” Cancer at 2019 NSE Corporate Challenge​ - Naija247news - Nigeria Cancer Blog on NSE Sets to “eRace” Cancer at 2019 NSE Corporate Challenge​
    Orji defends controversial recruitment of CoS' daughter as NSIA income hits N57.73 billion - Naija247news - Nigeria Cancer Blog on Orji defends controversial recruitment of CoS’ daughter as NSIA income hits N57.73 billion
    African companies raise $10.7b in 130 IPOs in 5 years – MONEYINAFRICA on African companies raise $10.7b in 130 IPOs in 5 years
    Okolie dennis on ASUU calls off strike
    ISAAC PEACE on ASUU calls off strike
    Abdulganeey on ASUU calls off strike
    Anonymous on ASUU calls off strike
    Anonymous on ASUU calls off strike
    Motor Spirit, Motorcycles drives Nigeria’s exports as terms of trade up 0.52% in 2018 Q3 – Naija247news | BikerColors.in on Motor Spirit, Motorcycles drives Nigeria’s exports as terms of trade up 0.52% in 2018 Q3
    ویزای شینگن چیست on Trump: Nigerians flee U.S for Canada, seeks assylum
    liamxdenny.tumblr.com on The Creative Apocalypse That Wasn’t
    جماهير الاهلى on No Nigerian Bank is in Distress – CBN
    Surgical Instruments on CBN And Its Crimes Against Nigerians
    FIFA World Cup 2018 tickets on FIFA president makes gains on World Cup expansion