The Nigerian National Petroleum Corporation has recommended the sale of the nation’s three refineries in Port Harcourt, Warri and Kaduna due to some challenges the agency described as critical elements, which may continually hinder their effective operation in the hands of the Federal Government.
NNPC had recommended to the Federal Government that the military should be directed to take over pipeline surveillance, as the agency would no longer be able to carry out the protection of the pipelines across the country. With about 250 points being attacked on a monthly basis, and the huge cost of putting them back in shape, there is no way the government can sustain such losses, which it had intended to stop.
However, President Muhammadu Buhari is said to have disagreed with selling the refineries for now on the ground of what the source explained was based on “social and political” factors.
“You know the connection between the President and how he facilitated the setting up of the refineries in Port Harcourt. He is highly concerned about what the people will say. He is also said to be considering what the cost of petroleum products will be after the sales; considering what the government pays silently at the moment to make sure petroleum products are readily available,” the source said, while explaining that Buhari’s reaction had been made known to the top management of the NNPC.
Meanwhile, the NNPC has denied any plans to sell the country’s refineries at present.According to the corporation, reforms by its new management have not suggested the sale of the three refineries located in Warri, Port Harcourt and Kaduna.
Punch