A Review of the Nigerian Energy Industry

FG urged to show transparency in sale of refineries

Kaduna refinery 126 November 2013, Lagos – The federal government has been urged to show transparency in the process of privatising its four refineries.

Mr Edwin Nwachukwu, Engineering Manager, Frazimex Engineering Ltd., made the call in Lagos yesterday.

Nwachukwu said that the proposed privatisation of the refineries would assist in curbing importation of petroleum products if properly handled.

He urged the Bureau of Public Enterprises (BPE) to choose only capable and visionary investors who would turn around the refineries.

Nwachukwu advised BPE against selling the assets in hurry to “friends” of the government.

“They should be very careful not to give them to the wrong hands because these refineries are sources of livelihood to many Nigerians”, he said.

The engineer advised the BPE to employ due process in line with the laid down method of selling certain percentage to workers, host communities and Nigerians in general.

He warned that labour issues should be properly handled during the process of privatisation.

Nwachukwu said that the privatisation would check the subsidy on petroleum which had no positive impact on Nigerians.

NAN recalls that Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, had on Nov. 18, announced that the country would privatise its four refineries in the first quarter of 2014.

Mr Chigbo Anichebe, BPE Head (Public Communication), also said that privatisation of the refineries was part of ongoing oil sector’s reform.


In this article

Join the Conversation