Politics
“Ph Refinery Won’t Be Ready By December As Stated By Tinubu”- Former President, Obasanjo Says As He Reveals Dark Secrets Surrounding Nigeria’s Refineries
“Ph Refinery Won’t Be Ready By December As Stated By Tinubu”- Former President, Obasanjo Says As He Reveals Dark Secrets Surrounding Nigeria’s Refineries....KINDLY READ THE FULL STORY HERE▶
Written By Oshiobugie Omo-Ikirodah
Amid the numerous promises and the optimistic outlook for Nigeria’s refining sector, former President Olusegun Obasanjo has thrown a spanner in the works, bringing in a perspective based on an intimate knowledge of the issues surrounding the refineries. CONTINUE READING
While speaking at an event, Obasanjo recalled a conversation he had during his tenure as the President of Nigeria. “I was informed by Shell during my presidency that our refineries will not work. Their reasoning was clear and was grounded in their vast experience in the global oil sector,” he began.
Contrasting this with a recent promise by President Tinubu, he said, “I was recently made aware of President Tinubu’s assertion that refineries would be operational by December. I didn’t hesitate to conclude that such a claim was overly optimistic.”
The former President went on to describe a detailed interaction he had with a top executive from Shell. The key reasons provided by the executive regarding why Shell was unwilling to take over the refineries were quite revealing: primarily, their core business interest lay in the upstream sector; the refineries in their current state would be a bad business decision, and, most starkly, the endemic corruption associated with refineries.
However, there seemed to have been a glimmer of hope during Obasanjo’s tenure. “Both Alike Dangote and Femi Otedola approached me with a proposal to buy two of the four refineries, specifically stakes in Port Harcourt and Kaduna. Their offer was a generous $761 million. However, President Yar’Adua, in his term, reversed the sale, putting us back to where we started.” CONTINUE READING
Further adding to the conversation, recall representatives from the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC), during a visit to the state house, mentioned President Tinubu’s assurance that the Port Harcourt refinery would be functional by December. This only goes on to show the contrasting views and the tumultuous journey of Nigeria’s refining sector.
The reactions to Obasanjo’s comments were swift and widespread:
- Chijioke Ndubuisi tweeted, “History has a way of repeating itself. Leaders should learn from past experiences. #RefinerySaga.”
- Amina Yusuf wrote on Facebook, “It’s high time we stopped playing politics with our refineries. Let’s take decisive action for the good of Nigeria.”
- Kola Adekoya on Instagram said, “This is why we need transparency in the oil sector. No more empty promises!”
Obasanjo’s revelations underscore the importance of grounding promises in reality, especially when they concern the critical infrastructure of a nation.
Source: Bushradiogist
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