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Petroleum Engineer Advocates Use Of Naira In Refining Process Transactions

A Petroleum Engineer, Zaaka Bala, has stressed the need for Petroleum Refining Process transactions to be carried out in Naira, as it would reduce Exchange Rate … Continue reading Petroleum Engineer Advocates Use Of Naira In Refining Process Transactions


bala

bala on Petroleum sector in NigeriaA Petroleum Engineer, Zaaka Bala, has stressed the need for Petroleum Refining Process transactions to be carried out in Naira, as it would reduce Exchange Rate Differentials and interest rates.

Mr Bala was giving his opinion on how the lingering fuel scarcity in Nigeria could be tackled.

On Channels Television’s breakfast show, ‘Sunrise Daily’, he also expressed the belief that with good rail network in Nigeria, the distribution of petroleum products would be easier.

He said: ”If you have your rail lines working, tankers and trucks will be limited to just the metropolitan centres”.

Mr Bala noted that there was no need for a trucks to come from distant places like Sokoto to Yola, to transport fuel.

He also said that if the process was implemented, there would be no reason for trucks to be moving from one part of the country to another.

“Trucks and tankers should be limited to metropolitan cities. You cannot connect pipeline to every service station,” he said.