Govt can’t run refineries profitably – PETAN

20 April 2016, Lagos -The Federal Government has no capacity to run and manage the nation’s four refineries, the Petroleum Technology Association of Nigeria(PETAN), has said.

*Kaduna-Refinery.

*Kaduna Refinery.

Its chairman, Mr.Bank-Anthony Okoroafor, who disclosed this in Lagos yesterday, advocated the need to allow the country’s refineries run by private investors to work optimally.

According to Okoroafor Nigerian government has no business running refineries but to set policy that would drive business activities.

“Refinery business is a business on its own; governments do not run such businesses. It was good at the initial stage for government to kick-start such investments and be able to build capacity,”he said.

The chairman said that it is illegal and criminal ‎for foreign oil companies to get jobs in onshore and swamp when competent indigenous companies are available.

He said that the association is keen to achieve value added local content that gives values to Nigeria and Nigerians.

“There is a Nigerian Content Law which states that onshore, swamp100 per cent of the jobs should be given to Nigerian companies. So any job that can be done by PETAN company or by a competent Nigerian ‎should not be given to somebody outside the country, it is criminal,” Okoroafor said.

However, where there is gap in deep offshore jobs, ‎Okoroafor said PETAN encourages alliance with foreign companies.

He said that where the capacity and capability exists in-country, such jobs should be given to Nigerian companies.

 

Daily Trust

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