• July 26, 2021

Atiku Faults Approval Of $1.5 Billion To Renovate Port Harcourt Refinery

By Olivia Isibor (AGENDAWATCHDOG) – Former Vice President, Atiku Abubakar has faulted the plan by the federal government to spend 1.5 billion dollars in the rehabilitation of the Port Harcourt refinery.

This came in the wake of the announcement by Minister of State for Petroleum, following a meeting of the Federal Executive Council, that the government’s plan for the repair work on the Port Harcourt Refinery would be done in phases for a total of 44 months.

READ ALSO: Wike: Why I’m Not Jubilant Over $1.5bn Rehabilitation Of Port Harcourt Refinery

Atiku, in a statement, describes the proposal as a waste of resources, especially coming at a time that the country’s economy was deeply stressed, suggesting that the best course of action would be to privatize the refineries for more effective and efficient management, noting that the country’s debt profile, which has rose from ₦12 trillion in 2015 to ₦32.9 trillion, should be a wakeup call to the government that it shpuld no longer be business as usual.

Agenda Watchdog

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