According to him, a litre of petrol in Nigeria could be the most expensive in the world.
President Bola Tinubu's appointee has asked Nigerians to pray for the refineries in the country not to work.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele said this while speaking at The Platform's independence anniversary event in Lagos on Monday.
According to him, a litre of petrol in Nigeria could be the most expensive in the world.
He said inefficiencies in the management of the refineries might bring about the worst situation should Nigerian refineries produce petroleum.
“Nigerians would say if only our refineries were working, then we’ll be fine. Nothing can be farther from the truth than that.
“In fact, Nigerians should come together and say please make sure that our refineries don’t work. We should sell them.
“If Nigerian refineries process crude oil, unless we deal with our inefficiency, one litre of petrol will be the most expensive in the world.
“You would have succeeded in replacing the subsidy at the pump with subsidy of the refineries,” he added.
“The National Assembly said we have spent over N10tn maintaining our refineries even when they have not produced anything,” he said.