₦airaland Forum

Acting Prime Minister Stuart Young, (also Minister of Energy) said the decision was largely based on Oando’s strong financial track record, particularly its $1.5 billion acquisition of ConocoPhillips’ assets in Nigeria.

The evaluation committee noted that both Oando and the CRO Consortium had similar capabilities in operating refineries, but Oando’s ability to secure substantial financing in the upstream oil sector gave it an advantage.

Young also made it clear that protecting Paria Fuel Trading Company’s assets was crucial to ensuring the continued supply of domestic fuel.

“We have to protect the assets of Paria to always ensure that we can provide domestic fuel to our population,” Young said. He stressed that any potential bidder must show a commitment to restarting the refinery and not just acquiring Paria’s assets for bunkering purposes.

Young also said that Oando’s proposal aligned with the government’s goals of reducing the state’s burden and creating flexibility for the future operation of the refinery, ensuring its restart would be prioritised.

malali:
Nigerian should train unemployed graduates how to run and operate refineries.
Send them abroad to the best refineries and let them study relevant courses
Lets control the refinery market globally
With expertise.

Creedng:
The drug lord is doing wonders with Nigeria money for his private business

atobs4real:
Tinubu should keep helping his brothers

Omoejigbahe:
If dem arrest you now, you go dey foam for mouth. Wasted semen.

Gotocourt:
We have surplus engineers already, not bro. Oil money is hot cake all around the world

Gotocourt:
Tulumbu on this one

America no longer safe Haven , oya na


Agbado munching miscreants will still say Oando CEO Wale Tinubu not related to President Bola Ahmed Tinubu. State capture na understatement, Dangote had to get dirty for successful sales

malali:
Nigerian should train unemployed graduates how to run and operate refineries.
Send them abroad to the best refineries and let them study relevant courses
Lets control the refinery market globally
With expertise.

Gotocourt:
Tulumbu on this one

America no longer safe Haven , oya na


Agbado munching miscreants will still say Oando CEO Wale Tinubu not related to President Bola Ahmed Tinubu. State capture na understatement, Dangote had to get dirty for successful sales

yommen:
Your wahala too much. Your line of thoughts too is not balanced. We need importers to keep importing so that dangote is not only source of this product. This ensures competition which will key the price in check.

yommen:
Your wahala too much. Your line of thoughts too is not balanced. We need importers to keep importing so that dangote is not only source of this product. This ensures competition which will key the price in check.