APC Chieftain Faults Allocation Of $1.5 Billion To Rehabilitate PH Refinery, Calls For Total Sale |The Source

By Ayodele Oni

A chieftain of the ruling All Progressives Congress (APC) in Nasarawa state, Alhaji Abubakar Shehu Usman has described the proposed rehabilitation of the Port Harcourt refinery, by the Federal government as another ploy to siphon fund from the nation’s treasury.

Alhaji Usman, while briefing journalists in Lafia, pointed out that every kobo being budgeted for the rehabilitation would be a waste.

The Federal Executive Council (FEC) had on Wednesday, March 17, 2021, after its meeting chaired by President Muhammadu Buhari, announced that a sum of $1.5 billion for the full rehabilitation of the Port Harcourt Refining Company Ltd. (PHRC).

According to Alhaji Usman, “FG should halt $1.5bn approval for the repair of Port Harcourt refinery and subject the project to public debate because from all indications it is another means of syphoning the nation’s resources.

“Subject this brazen and expensive adventure to national debate. Many experts prefer that this refinery is sold to private managers because the government has no business managing the refinery in Nigeria.

“Economy all over the world now thrive on liberalization, the federal government should hand over ownership of some of these projects that are used to milk the nation of its resources.

“The truth must be told, government has no business managing infrastructures such as the refinery,” he stated.

He added that the Bureau for public Enterprise, (BPE) should be mandated to source for core-investors with proven capacity to rehabilitate the refinery.