Friday, December 9, 2022

Atiku promises to privatise refineries, reduce governance cost

“I’m going to privatise our crude oil refineries and make Nigeria the hub of crude oil refining in Africa,” stated Mr Abubakar.

• November 15, 2022
Atiku Abubakar and REFINERY

Former Vice President Atiku Abubakar, the Peoples Democratic Party (PDP) presidential candidate, has promised to privatise oil refineries if elected president.

In a tweet on Tuesday, Mr Abubakar revealed that his government would work to make Nigeria the hub for crude oil refining in the continent.

“I’m going to privatise our crude oil refineries and make Nigeria the hub of crude oil refining in Africa,” stated Mr Abubakar.

The presidential hopeful has long pushed for privatising the state-owned oil company and other industries, including the electricity industry and refineries.

In August, he stated that the NNPC should be privatised to improve the oil business, adding that it is not the government’s responsibility to take over the management of the oil and gas industry.

The main opposition party’s candidate also stated that if elected in 2023, he will implement the Oronsanye report’s recommendations to reduce government spending to address the nation’s present economic problems.

“The Oronsaye report (on cutting cost of governance in the face of dwindling economic fortunes) is our baby. If you elect us, we will complete the job,” he tweeted.

In 2012, the Oronsaye committee sent in an 800-page report that called for the merger and dissolution of 102 parastatals and government organisations, some of which were self-funding.

The committee found intense competition among multiple overlapping government entities, leading to bad blood among agencies and needless waste of government funds.

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