Vice President Yemi Osinbajo has said that the Nigerian government should not be managing the country’s crude oil refineries.

Speaking at a virtual meeting organised for the All Progressives Congress (APC) social media bloggers and influencers in Abuja on Monday, Osinbajo said the government will rather open up opportunities for private investors to establish refineries in the country.

Osinbajo said: “If the refinery is left in the hands of the government, it will continue to experience the same problem it is experiencing now.

“I do not think that it is the business of the government to run the refinery. It should be the business of the private sector, which is why we are trying to focus on assisting the private sector to develop modular refineries.

“There is a 100,000 barrel capacity refinery about to come on stream and we hope it will by the next year.

“It is completely private and closely located near the Port Harcourt refinery so that it can share the facilities of the Port Harcourt refinery. We are hopeful it will come on stream in the first quarter of next year.

“There are also six modular refineries that are almost ready. There is a Niger Delta Petroleum Refinery in Delta state, there is another one in Imo, there is also another modular refinery in Edo State.

“We engaged the oil-producing communities to find a new vision for the Niger Delta and we tried to encourage modular refinery that will give the people in the oil-producing states a stake so that the modular refinery is not just private but the people there have some stake and equity.

“The whole idea is to support as many private refineries as possible. We are also waiting for the Dangote Refinery with 250,000 barrels capacity which is bigger than all of the government refineries put together.

“In the next two or three months, we will see the private sector playing a bigger role and things will quickly improve.

“We hope that this particular effort will complete the refurbishment of the refineries which will be completed soon but I am more hopeful of the private effort been the key to the future.

Read more: https://www.chronicle.ng/2020/09/fg-no-business-oil-refineries-osinbajo/

It high time seriously. What beat me is the fact that some people will take empty vessel out of the country and still bring empty vessel into the country and collect pay but thank God, with this move, it will be eradicated.
Plus when Dangote 250k barrel capacity refinery come on board coupled with the FG's 6 modular refineries which will be beneficial for local use and boost our revenue generation.

TheRareGem1:
It high time seriously. What beat me is the fact that some people will take empty vessel out of the country and still bring empty vessel into the country and collect pay but thank God, with this move, it will be eradicated.
Plus when Dangote 250k barrel capacity refinery come on board coupled with the FG's 6 modular refineries which will be beneficial for local use and boost our revenue generation.

In support of what is best for us