‘$1.5billion Should Rehabilitate All Our Refineries’ – Nigerians Say About Funds Approved by Government For Port Harcourt Refinery

‘$1.5billion Should Rehabilitate All Our Refineries’ – Nigerians Say About Funds Approved by Government For Port Harcourt Refinery

Nigerians have scolded the Nigerian government for voting “a huge sum” such as $1.5 billion for the rehabilitation of the Port Harcourt Refinery, noting that the same amount of money can fix all the country’s moribund refineries.

 

Nigerians on social media feared that the sum will be embezzled or spent on politics or to curry political favour.

The Nigerian government had on Wednesday approved the sum of $1.5 billion for the rehabilitation of the Port Harcourt Refinery.

 

The Minister of State for Petroleum Resources, Timipre Sylva, had stated this while briefing newsmen at the end of the Federal Executive Council meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja, on Thursday.

 

   

     
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Oil

Nigerian Government Approves $1.5billion For Rehabilitation Of Port Harcourt Refinery

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The minister said the rehabilitation, which would be in three phases, will commence immediately and to be handled by an Italian firm, Tecnimont S.P.A.

 

He explained that the first phase would be completed in 18 months, the second phase in 24 months and the final phase would be within 44 months.

 

He assured that the other three refineries will be put in place before the end of the Buhari-led administration.

 

He said, “The Ministry of Petroleum Resources presented a memo on the rehabilitation of Port Harcourt refinery for the sum of $1.5 billion, and that memo was $1.5 billion and it was approved by council today (Thursday).

 

“So, we are happy to announce that the rehabilitation of the productivity refinery will commence in three phases.

 

“The first phase is to be completed in 18 months, which will take the refinery to a production of 90% of its nameplate capacity.

 

“The second phase is to be completed in 24 months and all the final stage will be completed in 44 months and consultations are approved. And I believe that this is good news for Nigeria.”

 

But Nigerians on Twitter said the sum of money should be enough to repair all the country’s refineries.

 

For instance, Juliet (@julietezenwonwu) said, “Until that refinery does what it ought to. Forget it all na wash. Plus, that money will be looted in a twinkle of an eye 2023 Agenda.”

 

Moses Baidu Suleiman (@SMBaidu) said, “What is this again? Why rehabilitate a facility that has been rehabilitated in the past with no result? Sell off other refineries and use the proceeds with the $1.5bn to reconstruct a new refinery that will serve the nation. Enough of these white elephant projects.”

 

Abdulkarim Muhammad Vava (A.M Vava) (@Spinalvolcano) said, “I think that amount should build a new refinery if not upgrade the whole refineries.”

 

Similarly, Oladapo Adonis (@oladapo4xt) wrote, “I’m sure they’ve approved this money like 5 times in the last 20 years.”

 

Mr #ENDSARSNOW (@ukpai2d1) said, “The handlers of this country are shameless, how many times will they rehabilitate these refineries without achieving anything? Cash out project.”

Austine Joseph (@mcbunde) said, “Campaign for 2023! Nothing will be done, just to confuse us to vote for the armed bandits party.”

 

Aluko Oluwatobi (@tobi_aluko) said, “Waste of money. Sebi, you have given Dangote license to build a refinery.”

 

Odeh Ominyi (@OminyiOdeh) asked, “What is the cost of building a new refinery?”

 

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Source: ‘$1.5billion Should Rehabilitate All Our Refineries’ – Nigerians Say About Funds Approved by Government For Port Harcourt Refinery

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