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My stance is clearly outlined in The Atiku Plan (2018) and My Covenant With Nigerians (2022). Unfortunately, our recommendations were disregarded. Initially, there was reluctance to privatize the refineries, allowing them to remain inactive for years, with substantial staff salaries being paid.
“Subsequently, a loan of US$1.5 billion was secured for rehabilitation.
“Now, the current administration intends to transfer the rehabilitated refinery to private entities for operation and maintenance!
“Regardless of the agreement’s terms between the NNPC and the private operators, it would have been more prudent for the NNPC to sell the refinery before rehabilitation, mitigating the burden of debt.
The NNPC must provide a satisfactory explanation to Nigerians regarding the advantages of its newly adopted privatization approach for the country and its citizens.”
