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    Home»Business»FG, NiYA, Cascador Partner to Turn Youth Ideas into Investable Businesses
    Business

    FG, NiYA, Cascador Partner to Turn Youth Ideas into Investable Businesses

    Prima NewsBy Prima NewsAugust 14, 2026No Comments4 Mins Read
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    By Modupe Gbadeyanka

    The Nigerian refineries will not be allowed to waste away, given the huge investments made over many years, President Bola Tinubu has declared.

    Speaking on Thursday in Abuja, the President assured that in-depth research, restructuring, and leadership will reposition the moribund oil facilities to deliver value and profit.

    Responding to a request by the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), led by its leader, Mr Salimon Akanni Oladiti, to revive the nation’s oil refineries, Mr Tinubu explained that the challenges confronting the refineries would be addressed through a systematic, evidence-based approach rather than short-term interventions.

    According to him, the federal government will encourage detailed research and technical assessments to identify the structural, operational, financial and managerial challenges affecting the facilities and develop sustainable solutions.

    “The refineries that you mentioned are going to come back to work; we’re just building a very firm, resetting, and structural reworking of the economy of it. Ordinary flame and smoke of a refinery doesn’t mean that it’s working until it’s profitable and yields the value for which it is built.

    “I’m not a man who goes looking back on everything because I’ve accepted the assets and liabilities of my predecessor. No matter what has happened in the years past, it’s now my responsibility as president to fix it and make it work for the greatest common good of our population. I take responsibility for that, and we will do it.

    “I will just appeal to all of you to let us work diligently and passionately on this democracy. Democracy is about celebration of freedom and opportunity that must be cherished by all of us, just like a painful childbirth, but the joy is everlasting and long. And I promise you, you will enjoy a better Nigeria,” the President was quoted as saying in a statement signed by his spokesman, Mr Bayo Onanuga.

    Responding to the remark on the implementation of local government autonomy, President Tinubu promised that the constitutional issues involved in its implementation are being reviewed for possible fine-tuning. He appealed for understanding among stakeholders.

    He also took the opportunity to acknowledge a former President of the Union, the late Frank Kokori, for his role in deepening democracy in Nigeria.

    “You brought good memories of my relationship with Frank Kokori; may his soul rest in peace. We struggled for this democratic dispensation together, and it was very tough for us to have this democracy, and you have been a very good partner of the government in progress,” he said.

    Mr Tinubu also promised the NUPENG executives more inclusion in the implementation of the Presidential Initiative on Compressed Natural Gas. He, however, challenged them to make the effects of the CNG drive get down to the commuters.

    In his remarks, the Minister of Information and National Orientation, Mr Mohammed Idris, commended NUPENG for acknowledging the positive outcomes of President Tinubu’s reform agenda, stating that this mutual understanding has reduced friction between trade unions and the government.

    On his part, Mr Oladiti commended the President for taking the bold decision to end the fuel subsidy regime, describing the policy as a courageous step that has saved the country from decades of financial drain and depletion of national reserves.

    According to him, the decision to remove the fuel subsidy has begun to yield enormous benefits for the country by freeing resources for critical infrastructure development and other sectors of the economy.

    He particularly commended President Tinubu’s renewed commitment to rehabilitating and constructing major highways across the country, especially the ongoing construction of the 750-kilometre Lagos-Calabar Coastal Highway and the 1,068-kilometre Sokoto-Badagry Superhighway as major examples of infrastructure projects.

    “For our members, a good road is the difference between arriving home safely and never arriving at all. Every stretch of highway rehabilitated or constructed means fewer accidents, fewer spillages, fewer lives lost, and less stress for the men behind the wheels.

    “Mr President, that is a reform our members feel in their bones, and for it we say thank you because our tanker drivers and other road users are already seeing the benefits of the rehabilitation and construction of federal highways,” he said.





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