Nigeria: Elderly Entrepreneur Appeals to Tinubu for Swift Refinery Repairs
By Ahmad Hadizat Omayoza, Mamos Nigeria
Octogenarian and retired international businessman, Alhaji Azeez Adebayo, has called on President Bola Ahmed Tinubu to demonstrate the political will to promptly restore the nation’s refineries. Adebayo, an 82-year-old former international vehicles and accessories dealer, emphasized the urgent need for refinery repairs to alleviate the current hardships faced by the masses and stabilize the devalued Naira.
Addressing journalists in Ilorin on the nation’s state, he attributed the prevailing challenges in Nigeria to the high cost of fuel with minimal international consequences. Adebayo highlighted the significant impact on the economy, given Nigeria’s heavy reliance on oil. He stressed that the refurbishment of refineries would lead to a substantial reduction in petroleum product prices, bringing relief to the masses.
Recalling the past when he exchanged N55 to a dollar during his business transactions in the 70s, Adebayo expressed concern about the current exchange rate of well over N1,000 per dollar. He passionately appealed to President Tinubu to prioritize refinery repairs within the next two years, emphasizing the critical role this plays in alleviating the unbearable suffering experienced by Nigerians.
A chieftain of the All Progressives Congress (APC) in Kwara State, Adebayo urged the Federal Government to establish a Price Monitoring Unit nationwide. This unit, consisting of representatives from the manufacturing sector, market associations, and relevant stakeholders, would ensure fair pricing practices, preventing exploitation of the masses under the guise of high fuel prices.
Adebayo lamented the arbitrary price increases in open markets and emphasized the importance of collaborative efforts to determine and enforce reasonable product prices, ultimately benefiting the entire population.