By Senate probes $1.5bn spent on Port Harcourt Refinery
The Nigeria Senate has raised concerns over the $1.5 billion approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery, citing little to no results.
Senator Opeyemi Bamidele, Chairman of the Senate Ad Hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, expressed these concerns during an interactive session with stakeholders on Wednesday in Abuja.
The Senate Leader, Opeyemi Bamidele, emphasized that neglecting public companies was unfair and improper while private businesses flourished and thrived.
He recalled that the Federal Executive Council had approved the plan by the Ministry of Petroleum Resources to rehabilitate and turn around the Port Harcourt Refinery with $1.5 billion.
Mr Bamidele expressed concerns about the dysfunctional state of government-owned refineries despite billions of dollars spent on turn-around maintenance.
Dangote Refinery
“The federation is undergoing a truly challenging period. The distribution and supply of refined petroleum products have been irregular and problematic in the recent history of our fatherland.
“The long queues at filling stations are a testament to this challenge.
“A situation whereby we now depend almost entirely on the importation of these products even when we daily supply the global oil market about two per cent of its crude oil requirements is worrisome,” he said.
He said also of serious concern was the importation of hazardous petroleum products and dumping of substandard diesel into the country.
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