The Vice President, Prof. Yemi Osinbajo, has said the problems associated with Nigeria’s refineries will persist if the Federal Government continues to own and run them.

He noted that experience has shown that refineries were better managed by the private sector hence the need for the government to restrict itself to providing the regulatory framework for such businesses to thrive.

Osinbajo said this at a virtual meeting organised for the All Progressives Congress bloggers and social media influencers at the APC National Secretariat, in Abuja, Monday.


According to him, it was time for the nation to do more to develop its gas and renewable energy resources which are cheaper and cleaner.

He said, “If the refinery is left in the hands of the government, it will continue to experience the same problem it is experiencing now. I do not think that it is the business of the 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.”


Speaking further 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.”


https://punchng.com/government-has-no-business-running-refineries-says-osinbajo/

True

Atiku said so and you APC goons called him thief. Yeye government.

Realities are dawning on us Lalastic.lala

Realities dawning on us Lalastic.lala

You guys just realized? But you insulted Atiku when he said he was going to sale them to private entities to run. Yahoo! Yahoo!! Govt.

Isokay, he simply said the truth. If it was privately owned, the owners would manage it as their own personal business with minimal corruption. But when government managed,some fulani demons will mismanage it, of course because it does not belong them, otherwise they would guard it with their lives.It's quite sad they've employed the help of some betrayers from the Niger Delta to act as Stooges and giving them peanuts to sing their praises, while they stash the money in foreign bank accounts. For all of you, a day of reckoning is coming, for whatsoever a man soweth, so shall he reap. God is not mocked. Nigeria will be Great.

yet govt uses it to steal money

warripekin:
Atiku said so and you APC goons called him thief. Yeye government.

APC supporters are like stagnant water. they lack independent and functional reasoning capacity

Yeah, that's right! We hear you loud and clear!! Government has no business running refineries.., actually it's the paddy-paddy friends of those in government that have business running refineries!!! Ozuoo

slivertongue:


APC supporters are like stagnant water. they lack independent and functional reasoning capacity

PDP better not present atiku come 2023, they better look for credible candidates or else...

...

So Atiku was right all along, but was harangued and pilloried for voicing out the ideas of unbundling the NNPC and selling off comatose refineries during the 2019 presidential campaigns.

This just confirms that Atiku is a better economist and miles ahead of the ignoramuses, currently managing the affairs of the country.

Mtcheew...


Incase you don't know na me talk

what atiku saw how many years ago; so na now u dey see am

na to share trader money ur sense sabi

i taugth they said this man is inteligent

professor zombie

tamdun:

PDP better not present atiku come 2023, they better look for credible candidates or else...

who do u want

this Osinbajo is a criminal fake pasta bastard

I'm done talking

cc
solmus

slivertongue:


APC supporters are like stagnant water. they lack independent and functional reasoning capacity

They told us one refinery per yesr, what has changed?

Wicked Hypocrites! 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.This is the same initiative someone suggested sometime but these same satanic govt denounced as corruption.So what has happened after many years?

iwaeda:


They told us one refinery per yesr, what has changed?

the don't always mean what they say. their yes means no, their come means go, don't ever take them serious. pyo said many things during the campaigns which I think he knew were misleading.

Great point.