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Osinbajo: Government Has No Business Running Oil Refineries - Politics - Nairaland

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Osinbajo: Government Has No Business Running Oil Refineries by Racoon(m): 8:44pm On Sep 21, 2020
Says FG is banking on private refineries to solve energy crisis

Vice President Yemi Osinbajo has restated the resolution of the Buhari administration that the Federal Government has no business running oil refineries in Nigeria.

Speaking at a virtual meeting organised for the All Progressives Congress (APC), social media bloggers and influencers at the ruling party’s secretariat in Abuja on Monday, the Vice President indicated that the Nigerian government sees the private sector as playing a bigger role in investing in and running oil refineries moving forward.

While arguing that the challenges confronting the government-owned refineries will persist if left in the hands of government, he said that government will continue to explore cheaper gas resources as an alternative.

The Vice President expressed confidence that the energy crisis in the country will ease by the first quarter of 2021 when most of the modular refineries would have come on stream.

‘If the refinery is left in the hands of government, it will continue to experience the same problem it is experiencing now. I do not think that it is the business of government to run the refinery. It should be the business of the private sector, which is why we are trying to focus on assisting the private sector to develop modular refineries,’ he argued.

Defending the decision of the Federal Government to hands off the running of refinery, Prof Osinbajo said: ‘There is a 100,000 barrel capacity refinery about to come on stream and we hope it will by the next year. It is completely private and closely located near the Port Harcourt refinery so that it can share the facilities of the Port Harcourt refinery. We are hopeful it will come on stream in the first quarter of next year.

‘There are also six modular refineries that are almost ready. There is Niger Delta Petroleum refinery in Delta State, there is another one in Imo, there is also another modular refinery in Edo State.

‘We engaged the oil producing communities to find a new vision for the Niger Delta and we tried to encourage modular refinery that will give the people in the oil producing States a stake so that the modular refinery is not just private but the people there have some stake and equity.

‘The whole idea is to support as many private refineries as possible. We are also waiting for the Dangote Refinery with 250,000 barrels capacity which is bigger than all of the government refineries put together.

‘In the next two or three months, we will see the private sector playing a bigger role and things will quickly improve. We hope that this particular effort will complete the refurbishment of the refineries which will be completed soon but I am more hopeful of the private effort been the key to the future,’ he assured.

Speaking further, the Vice President said: ‘However, we have to focus more on our gas resources because there is no reason we should have a cheaper energy source and we should not use such cheaper energy source. I believe that this is really the way to go.’
https://thenigerialawyer.com/govt-has-no-business-running-oil-refineries-osinbajo-says/

10 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by Racoon(m): 8:50pm On Sep 21, 2020
After your government promised but failed or denied as usual to provide the new refineries? After failing to rehabilitate the old refineries thereby constituting sources of economic wastage? Why was subsidy, TAM & other overhead costs being paid while they remained moribund?

Let's be honest with ourselves for once.This is the same initiative someone suggested sometime but these same satanic govt denounced it as corruption.So what has happened after many years?

118 Likes 8 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by Lisaint(m): 8:52pm On Sep 21, 2020
All promised cancelled

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Re: Osinbajo: Government Has No Business Running Oil Refineries by anonimi: 4:41am On Sep 22, 2020

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Re: Osinbajo: Government Has No Business Running Oil Refineries by ednut1(m): 4:43am On Sep 22, 2020
If only Yar adua had foresight. Obasanjo had already sold 2 of the refineries when it had value only for yar adua to reverse the sale. Today no one will buy the refineries and dangote don go build hin own.
https://www.google.com/amp/s/www.vanguardngr.com/2015/07/how-yaradua-was-pressurised-to-revert-refineries-sold-to-dangote-obasanjo/amp/

61 Likes 6 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by yeyeboi(m): 4:43am On Sep 22, 2020
Ok
Re: Osinbajo: Government Has No Business Running Oil Refineries by Beverlyjean(f): 4:45am On Sep 22, 2020
When Jonathan was there...u cursed and abused him and u made fake promises...now u understand the proverbial that its easier said than done ... u never can make real prmises unless u hv experienced it...Jonathan's government was way much better than the crap u guys offer

125 Likes 14 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by NORSIYK(m): 4:45am On Sep 22, 2020
When Atiku said this earlier you zombies came after him and abused him and called him all sorts of names

122 Likes 11 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by xamuel17(m): 4:45am On Sep 22, 2020
we had 3 parties in Nigeria ; PDP , APC and Redeemed church .....That church has provided the highest amount of criminals in politics

37 Likes 9 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by anonimi: 4:48am On Sep 22, 2020
Racoon:
After your government promised but failed to provide refineries as promised? After failing to rehabilitate the old refineries thereby constituting sources of economic wastage? Why was subsidy, TAM & other overhead costs being paid while they remain moribund? Let's be honest with ourselves for once.

Na so o.
Liars get caught out in the long run, especially when they finally get the power they were hustling for. No more excuse. No hiding place.
Compare and contrast.


www.nairaland.com/attachments/3075524_bubu1_jpeg88275f10f2430d13576e18436b244ea1


ManirBK:
Alhaji Atiku Abubakar, presidential candidate of the Peoples Democratic Party on Wednesday in Kaduna reiterated his plan to privatise the Nigerian National Petroleum Corporation(NNPC), if elected president on Feb 23.
Abubakar spoke at a town hall meeting with ward, local government and state party leaders in the state at the Kaduna Trade Fair Complex.

He said that the NNPC had failed to serve the purpose for which it was established in 1977.
According to him, selling-off the Corporation and all the three refineries is the best option for the country, likening it to the sale of Nigerian Telecommunication Limited (NITEL).


Abubakar said Nigeria is among the biggest producers of crude, but lamented that the country still imports refined products for local consumption at exorbitant prices to the detriment of the common man.
He said, if elected President, he would deregulate the NNPC and sell it to Nigerians. the way Obasanjo sold NITEL.
However, he forgot to mention that the sale of NITEL was disastrously done.
Under Obasanjo, NITEL went through several botched sales and management turnaround contracts. First, 51 per cent of the shares was sold to a group of investors under the trading name of Investors International London limited.
The sale was cancelled after the investors failed to pay. Then in 2003, , the government approved a management turnaround contract with a firm called Pentascope. The contract was cancelled in 2005 after it became clear Pentascope did not have the adequate resources to run NITEL.
In 2005, government again offered NITEL to Orascom. This failed again, leading the government to sell it to a subsidiary of Transcorp in 2007. The sale was revoked in 2009. In 2014, the firm was sold to NATCOM, a group of investors led by Tunde Ayeni. Ayeni since then has been running it as NTEL

https://www.dailytrust.com.ng/nnpc-had-failed-to-serve-its-purpose-says-atiku-insists-to-sell-it.html?


www.nairaland.com/attachments/2589504_subsidy2_jpeg57ea79bc1f8758353f00f8db1d53dbf1


We Won’t Sell NNPC, Refineries, FG Assures
Feb 6, 2019

The Federal Government has assured Nigerian workers that it had no plans or agenda to sell any of the nation’s refineries or the Nigerian National Petroleum Corporation (NNPC).

Speaking at the 12th Quadrennial National Delegates Conference of the NLC in Abuja, on Tuesday, President Muhammadu Buhari, who was represented by the Secretary to the Government of the Federation, Boss Mustapha, said government was determined to attain the decent work agenda, which involves opportunities for workers, saying it will deliver a fair income, security at work places, and social protection for families.

“I want to reassure you of the commitment of this administration to the issue of welfare of workers. This is evidence of numerous programmes and policies that have been initiated by this administration in promoting the interest of the wellbeing of our workforce.

https://www.independent.ng/we-wont-sell-nnpc-refineries-fg-assures/amp/


www.nairaland.com/attachments/3131247_cu55se7vaaaykzj_jpeg8d3b0e22c761643e651e5d09f82d1552

15 Likes 2 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by tron23(m): 4:49am On Sep 22, 2020
Interesting....who would have thought.
Re: Osinbajo: Government Has No Business Running Oil Refineries by adenigga(m): 4:53am On Sep 22, 2020
Specialist in ''failed promises''

18 Likes 1 Share

Re: Osinbajo: Government Has No Business Running Oil Refineries by Nikeruka(m): 4:54am On Sep 22, 2020
How did these people get into power?

18 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by anonimi: 4:54am On Sep 22, 2020
Beverlyjean:
When Jonathan was there...u curse and abused him and u made fake promises...now u understand the proverbial that its easier said than done ... u never can make real prmises unless u hv experienced it...Jonathan's government was way much better than the crap u guys offer


www.nairaland.com/attachments/6325456_images51_jpeg_jpegf41c358e48775a9157a6f04b3dd56a4f


anonimi:
www.nairaland.com/attachments/4184367_img20160901212519_jpeg78b79ce1d41276755a59631319a61753

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Re: Osinbajo: Government Has No Business Running Oil Refineries by JudasNaCarrot: 4:56am On Sep 22, 2020
A party full of shameless liars.

No matter how hard they try, their lies and deceit have exposed them.
In order to grab power at all means, these criminals headed by a known drug baron, a coupist and Islamist teamed together with one slow poisoned looking pastor and all other super corrupt politicians and painted Jonathan and PDP bad.

If only Nigerians knows what awaits them in future when all the lies and empty promises were dished out just to discredit Jonathan, today Nigerians are bittered and groaning under hardship never witnessed in the history of this contraption called Nigeria.

One by one God will expose you all and your generation will never know peace for killing my country.

27 Likes 4 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by chidexleo: 4:58am On Sep 22, 2020
Atiku was right after all

22 Likes 2 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by chukwuibuipob: 5:00am On Sep 22, 2020
sad
Re: Osinbajo: Government Has No Business Running Oil Refineries by omoyankee3(m): 5:01am On Sep 22, 2020
Sell the refineries to PLCs so Nigerians can own shares in them. It will also ensure efficiency and accountability

5 Likes 1 Share

Re: Osinbajo: Government Has No Business Running Oil Refineries by Enudapan: 5:02am On Sep 22, 2020
Nna eh! No qualms
This is so unsophisticated

1 Like

Re: Osinbajo: Government Has No Business Running Oil Refineries by GboyegaD(m): 5:03am On Sep 22, 2020
This is no news. I wonder why we say things we all know.

2 Likes 1 Share

Re: Osinbajo: Government Has No Business Running Oil Refineries by Simeon88(m): 5:05am On Sep 22, 2020
This is disappointing...this was not the earlier promise ooooooo...

1 Like

Re: Osinbajo: Government Has No Business Running Oil Refineries by ursullalinda(f): 5:12am On Sep 22, 2020
When it's choking this government to speak the truth.......they send Osibanjo bearer of bad news......so the bashing can shift from Buhari to him......everyday I wonder what a prof like him is doing as a vice to a NEPA certificate holder.......failed system.

23 Likes 5 Shares

Re: Osinbajo: Government Has No Business Running Oil Refineries by oluwaSavage: 5:13am On Sep 22, 2020
really?
Re: Osinbajo: Government Has No Business Running Oil Refineries by cupidFlint(m): 5:19am On Sep 22, 2020
We yelled, wailed when we saw the impending disaster in the person of this demented octagenarian we were called wailing wailers. Really the educational system in Nigeria has no value because if it did tell me why a PhD holder and a scholar will vouch vigorously for a nonentity and an illiterate to be president. We got more than we bargained for so we have to face whatever that comes our way.

10 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by Oduok(m): 5:22am On Sep 22, 2020
A fully deregulated downstream petroleum sector is the right step in the right direction. This is commendable and it will encourage investors to come in.

4 Likes 1 Share

Re: Osinbajo: Government Has No Business Running Oil Refineries by udemzyudex(m): 5:22am On Sep 22, 2020
Funny, hypocrites everywhere.

2 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by gambia(m): 5:31am On Sep 22, 2020
Scammers undecided After promising Nigerians heaven and earth, shameless folks.

4 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by Alwaysachick: 5:34am On Sep 22, 2020
Oh....i thought they said Atiku will sell it to his girlfriends angry shameless liars

4 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by SmartPolician: 5:36am On Sep 22, 2020
The same thing that Atiku said and some APC minions wanted to crucify him

6 Likes

Re: Osinbajo: Government Has No Business Running Oil Refineries by Toosure70: 5:37am On Sep 22, 2020
Better know o

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