Monday, February 6, 2023

Atiku Condemns $1.5 Billion Meant To Renovate Port Harcourt Refinery

Former vice president and presidential flagbearer of the Peoples Democratic Party in the 2019 general elections, Atiku Abubakar, has described the decision of the federal government to vote $1.5 billion for the repairs of the Port Harcourt refinery as “suspicious”.

The Federal Executive Council presided by president Muhammadu Buhari, on Wednesday approved $1.5 billion for the renovation of the Port Harcourt refinery.

Port Harcourt Refinery
Port Harcourt Refinery

The approval comes amidst a controversial price increase in the pump price of petrol that was later reversed.

Although Nigeria has four refineries, all government-owned, it currently imports virtually all its refined petroleum products.

The approval has expectedly been greeted with mixed feelings as the country has in the past spent billions of dollars on refinery maintenance. Despite such expenditure, however, the refineries have not worked with many experts calling for their privatisation.

In a statement Thursday, Mr Abubakar said the decision was “unwise.”

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