NNPCL FIRES BACK AT OBASANJO OVER ALLEGED $2BN REFINERIES REPAIR FUND, INVITES HIM FOR TOUR
-Former President Olusegun Obasanjo revealed failed attempts to privatize Nigeria’s refineries during his tenure, noting that his successor, Umaru Musa Yar’Adua, rejected Aliko Dangote’s $750m offer to manage the Port Harcourt and Kaduna refineries, leading to alleged financial losses exceeding $2bn under government control.
-Obasanjo recounted obstacles faced during privatization efforts, including Shell’s refusal to manage the refineries due to corruption, poor maintenance, and their small capacities compared to global standards.
-Obasanjo contrasted government inefficiency with Dangote’s capability to manage his private refinery, expressing frustration over continued wasteful spending on public refineries without tangible results since 2007.
-Former President Olusegun Obasanjo criticized inflated claims about Nigeria’s refineries, expressing skepticism over their operational status despite NNPCL’s recent announcements about the Port Harcourt and Warri refineries commencing crude oil processing.
-In response, NNPCL invited Obasanjo for a tour of the rehabilitated Port Harcourt refinery to verify its functionality, highlighting a complete overhaul aimed at achieving world-class standards rather than the previous limited Turnaround Maintenance approach.
-NNPCL emphasized its transition from a government corporation to a profit-driven private entity, aiming to integrate traditional oil and gas operations with cleaner, sustainable energy solutions to address Nigeria’s energy demands.
Peoplesmind
