Atiku Criticizes NNPC’s Decision To Hand Over Port Harcourt Refinery To Private Firm

Atiku Criticizes NNPC’s Decision To Hand Over Port Harcourt Refinery To Private Firm....KINDLY READ THE FULL STORY HERE▶

The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections, Atiku Abubakar, has expressed concern over the decision of the Nigerian National Petroleum Company Limited (NNPCL) to hand over the Port Harcourt refinery to a private firm for operation and maintenance. Atiku suggested that selling the refinery would have been a more prudent option to avoid accumulating debt…...CONTINUE READING

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In a post on a social media platform, Atiku lamented that his previous recommendations for comprehensive reforms in Nigeria’s oil sector had been ignored. He emphasized his consistent call for breaking the monopoly of the Buhari administration in various infrastructure sectors, including refineries, and allowing both foreign and domestic investors to play a more significant role in funding and management.

Referring to his earlier policy documents, “The Atiku Plan (2018)” and “My Covenant With Nigerians (2022),” Atiku outlined his advocacy for privatization and increased private sector participation. He criticized the government for not heeding his advice, resulting in the refineries being left idle for extended periods, with substantial staff salaries being paid.

Atiku highlighted the government’s decision to secure a $1.5 billion loan for the rehabilitation of the refinery, only to subsequently hand it over to private operators for operation and maintenance. He expressed his belief that it would have been more beneficial if the NNPCL had sold the refinery before rehabilitation to avoid the financial burden of debt.

Calling for transparency, Atiku urged the NNPCL to provide a satisfactory explanation to the Nigerian public regarding the advantages of the new privatization approach. He emphasized the need for clarity on how the new arrangement would benefit Nigeria and its citizens.

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