From Kemi Yesufu, Abuja

THE House of Representa­tives Committee on Privati­sation yesterday, halted the proposed privatisation of the country’s three refineries by the Nigerian National Petro­leum Corporation (NNPC).

The affected refineries are located in Kaduna, Port-Har­court and Warri. The Com­mittee, which is investigating the move to sell the refineries by the NNPC rather than the Bureau of Public Enterprises (BPE) declared that NNPC violated the provisions of the BPE Act Section 2, 2009.

Chairman of the Commit­tee, Ahmed Yerima, further declared that the NNPC acted unilaterally by going ahead with the exercise with­out involving other stake­holders as contained in the Act.

The Committee had be­fore issuing it’s directive insisted on adjourning the hearing due to the absence of the Group Managing Direc­tor of NNPC and Minister of State for Petroleum, Ibe Kachikwu.

The lawmakers were not impressed with explanations from the Group Executive Director of the NNPC in charge of Refineries, Anibor Kragha, that he had the full mandate of the Minister to clarify the position of the Corporation on the matter as he is directly involved in managing the refineries.

Members of the Com­mittee kicked against the arrangement, insisting that the Minister of State should appear personally at a later date based on their past expe­riences with the Corporation when its chief executives had failed to honour invitations extended to it.

But after assurances from the NNPC GED that he had the mandate of the Minister to represent him and that he was competent to handle the matter in question, Kragha went on to make his presen­tation along with the Acting BPE Director General, Vin­cent Akpotarie, during which he denied that the Corpora­tion was out to privatise the refineries. According to him, NNPC was only seeking for core investors to invest in the refineries.

In response, the Committee sought to know who autho­rised it to embark on such an exercise without the knowl­edge of the National Assembly and the BPE to which Kragha replied that he needed clarifi­cation on this, saying that he was just appointed into the office.

Kragha’s response irked members of the Committee who reminded him of his ear­lier claim that he was compe­tent to handle the matter. At this stage, Kragha cut in say­ing, “with due respect to this Committee, I was appointed into the office by Mr. Presi­dent who believed my com­petency.”

Declaring his ruling, Yeri­man directed NNPC to stop the exercise immediately al­leging gross violation of the BPE Act.

http://www.sunnewsonline.com/reps-halt-sale-of-refineries/

Why is nothing working in Nigeria?

Any Nigerian who buys these refineries would waste his money. If our politicians could build refinery in abroad, what does it take the FG to build six more refinery. After 50yrs of oil exploitation and exploitation we have 3 moribund refinery. Nigeria is unfortunate to be blessed with selfish leaders who thinks only to amass wealth.

Clueless NNPC

The Electricity that was privatised, what is it score card?

It is becoming Islamization!!!!

When it comes to due process and right thinking, this government is a learner, taking baby steps all the time. How would you privatize state assets without going through BPE? Are these ministers schooled in governance at all? What then is the importance of the retreat they held at Obudu?

orunto27:
It is becoming Islamization!!!!

With style. the sudden killing by fulani bororo is a form of jihad in the process

orunto27:
It is becoming Islamization!!!!

what is this one saying?

Will anything good come out from Daura?








Just a question tho.

Do the reps want to take over the refineries and keep them working at full capacity? And can you imagine who's in charge of the committee? Yerima of all people

if dem privatised NNPC,howbdem wan dey take chop oyel money?

These politicians have started again.

I don't think there is single sane person to lead Nigeria right at this crucial moment. They all have no bearings or directions. A good government must reason and adopt the right policy for its masses.

https://www.youtube.com/watch?v=dWg31diiMQ0

hmmm

Okay now!

Another round of confusion. Same thing we've been doing for the past 17 years

The government should not sell rather they should start building new refineries! !!

Blow them up instead!!!

sanandreas:
Any Nigerian who buys these refineries would waste his money. If our politicians could build refinery in abroad, what does it take the FG to build six more refinery. After 50yrs of oil exploitation and exploitation we have 3 moribund refinery. Nigeria is unfortunate to be blessed with selfish leaders who thinks only to amass wealth.

You should be praying that Government hands off and allow a market driven economy. Private investors would handle this facilities better, Let the Government face governance alone. The government has a terrible history of managing this things.

sanandreas:
Any Nigerian who buys these refineries would waste his money. If our politicians could build refinery in abroad, what does it take the FG to build six more refinery. After 50yrs of oil exploitation and exploitation we have 3 moribund refinery. Nigeria is unfortunate to be blessed with selfish leaders who thinks only to amass wealth.

What is the cost of refineries $4bn upwards and what's our capital budget please??

Bro talk with fact

Nigerians saying government should build new refineries make me laugh
Do u think the money is there and they won't??
How much is our budget (capital)
The economic ignorance in this country make the people a nightmare to the government in power and tool in the hand of opposition
I will give u 15000MW they won't ask with which money, how will it be founded
The problem with Nigeria is lack of founds and the only way we can get the founds is effective taxing
VAT is too poor at 5%.. . 15% minimum
The rich should be taxed, buy a luxury car and pay 50% tax of the value of the car, private university should be taxed 40% of there fees, religious centers, 40% of there revenue
People travelling for pilgrimage should pay 100% tax of the total expenditure
With this and many more we can raise 20 trillion a year and everything will be well

Caricature govt

confused

Nothing good works in this country.

KillerFrost:
Why is nothing working in Nigeria?

Nothing works because those who are suppose to make sure it does are all about their selfish interest.

A nation with leaders without national pride and honor.

We are indeed in serious trouble.

Comment loading..

Despite the fact that APC control federal power at all levels, they still function in disarray

Confused nd impromptu government

Those House of Rep's fhucker are about to fhuck up the privatisation deal like the fhucked up the Electricity privatisation deal..



Selfish interests will kill those legislative bastards..