Except the Federal Government removes petroleum subsidy, the quest to encourage the establishment of private refineries in the domestic economy will remain a mirage, the Managing Director of Oando Plc, Mr Wale Tinibu, has said.

Tinubu, who said this on Thursday in Lagos, at the company’s Annual General Meeting (AGM), remarked that the nation had so far expended about N8billion on subsidy for petroleum products this year, an amount huge enough to build two refineries.

http://www.tribune.com.ng/index.php/news/24386-subsidy-removal-will-encourage-refinery-devt-tinubu