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Thursday, 3 November 2016

FG may sell three refineries after rehabilitation--says Kachikwu

Minister of State for Petroleum Resources, Ibe Kachikwu, has disclosed that the Federal government may sell the three refineries located in Kaduna, Warri and Port Harcourt after they have been fixed and dimmed operationally efficient.
Kachikwu disclosed this while speaking to state house correspondents in Abuja: He said:

“The feeling of the Federal Executive Council (FEC) and the President is that we should first get the refineries to be efficient before we talk about privatisation, otherwise we will be selling scraps. In their present state nobody is going to offer you serious money. A huge amount of investment is going into this."
The minister further explained that apart from this, there were other issues that could determine the final decision of the government on the refineries; the labour issues, for example, are some of the issues that must be addressed if such proposal would sail through.

He noted that the government has thought out other possible means of getting the refineries back to full productivity adding that the government would be shopping for investors who are willing to invest money and competence in the refineries:
“We have got to take the realities on ground. The decision therefore was to find investors who are willing, almost on a loan structure basis to put money, put the technical skills, work with our people who are there and we have very many skilled people, but let us face it, the fact that they are working today is because they are local people, they are local engineers who are able to resuscitate them. There is a capacity efficiency that we are not just tapping into now,” he said.

35 comments:

Eddy Ogbunambala said...

Alright

CHERYL (aka FROM GLORY to GLORY) said...

Repair them and sell them? For real? Why not repair them and maintain them. Sell and loot the money on top our suffering? I just dnt get this country.


Long Live LIB

freeborn bamislam suani ahmad zinalima said...

Madness! Shame to apc.!DID TERRORIST BUHARI HAVE REFINERY HUH? Buhari resign ooo. SEll IT TO WHO HUH? oh dangote huh? TERRORIST BUHARI U MAY SELL UR FAMILY OR HAUSA REFINERY BUT DONT DARE TOUCH NIGER DELTA REFINERY OO
shameless visionless government with dead brain and dead solution.


















#sad indeed

Bonita Bislam said...

Is this a reaction from Senate's disapproval of loan by FG? Are there no alternative ways to boost production from these refineries when they get fixed instead of privatising em?
I dunno much about the economy but I feel selling assets like this should be a last resort. This country gotta have something to hold on to as asset if not for anything but for the sake of the future

freeborn bamislam suani ahmad zinalima said...

Madness! Shame to apc.!DID TERRORIST BUHARI HAVE REFINERY HUH? Buhari resign ooo. SEll IT TO WHO HUH? oh dangote huh? TERRORIST BUHARI U MAY SELL UR FAMILY OR HAUSA REFINERY BUT DONT DARE TOUCH NIGER DELTA REFINERY OO
shameless visionless government with dead brain and dead solution.


















#sad indeed

freeborn bamislam suani ahmad zinalima said...

Madness! Shame to apc.!DID TERRORIST BUHARI HAVE REFINERY to sell HUH? Buhari resign ooo. SEll IT TO WHO HUH? oh dangote huh? TERRORIST BUHARI U MAY SELL UR FAMILY OR HAUSA REFINERY BUT DONT DARE TOUCH NIGER DELTA REFINERY OO
shameless visionless government with dead brain and dead solution.


















#sad indeed

Ogenah Boris said...

If it will solve the issues then it should be sold

Anonymous said...

Dis people will sale Nigeria one day and go borrow money
to use buy Nigeria back again

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livingstone chibuike said...

Shame to u all. Dats not d way forward for my country

NaijaDeltaBabe said...

Whatever jare


...merited happiness

ONYX linda ikeji first son GODWIN said...

Why not just sell, instead of going through the stress of renovation?

BONARIO NNAGS said...

It can only get better, the future looks bright for our economy.



. ~BONARIO~says so via NOKIA LUMIA

Anonymous said...

So the refineries are scrap now? very foolish, don't know why you have not been sacked since. You don't have a single clue on getting the oil and gas sector to work. Women won't allow you think properly, stupid.

unekwuvictoria onoja said...

You can as well sell the whole country,evil government

ric said...

This is crazy.

Uju Phil said...

Hope the money doesn't disappear into some elites pockets? Smh...

Juliet Iwuno said...

Issorite! Linda take note!

Nwanya Udochkwu said...

Hmmmm...Jst passing o..

Iphie Abraham said...

Chei! See my uncle face eh,e don slim finish because of Naija matter











Lib addict#just passing#

Ndubisi Tochukwu said...

Na only to sell dey this people agenda
Signed
LibBadBoy

Anonymous said...

Why renovate it. Nigerians are tied of you thieves in governmeent

okechukwu nnoduechi said...

NIGERIA OOOO








AUNTY LINDA 👩

OSINANL said...

clueless

Vivian Reginalds said...

hjahahah ndi Nigeria ndi sellers
-D great anonymous now as Vivian Reginalds

Abosede Ojuade said...

Whatever.

Chizzy Liz said...

*********************Oga.... If una knw wic one u wan do.. Biko do...... And do it fast.... Unu ekwuchizina mmadu nti

Chizzy Liz said...

*********************Oga.... If una knw wic one u wan do.. Biko do...... And do it fast.... Unu ekwuchizina mmadu nti

JEMBETE(KEY-POINT) said...

FG WAN SELL REFINARY BUT DEM WAN RENOVATE AM FOR D SELLER, UNA SEE ILLITERATE BUARI CRIMINAL MINE???

U WANT SELL MOTO OF 1.5 M FOR 300K, U GO COM GO BUY NEW ENGINE OF 15OK PUT AM???

UNA SI WHY I DE CALL BUARI "ILLITERATE BUARI"???

NO B DIS REFINARY DIS SAME BUARI SAY DE WORK FOR 80% CAPACITY???
NO B DIS SAME REFINARY ILLITERATE BUARI N APC IDIOT DE SHOUT WEN JOHNATHAN WANT PRIVATISE AM???

ONE CHANCE!!!!!!!!!!!

JEMBETE(KEY-POINT) said...

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WEN U CALL AM, DEM GO SAY MAKE U PAY MONEY FIRST TO DEM ACCOUNT.
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Oskirin said...

kachikwu......pls if u are reading ds; dnt make any mistake of selling ds refineries.coz if u do....u will be sending people into d unemployment market.d best tin to do is to repair it n re-energies d staff working dere.let dem feel dey are d owner.so dey will take kia of it very well.den u set up monitoring and evaluating staff who will visit dem on regular basis.by ds u will get out d best frm dem.

u rememba all d privatiosion don in d past by pdp.dey are all nt workin.visit Nicon insurance,Nigeria steel company, aladja,PHCN,Nigeria airways etc.d people are only after d assets,after dey will go n left in in shambles.

once again,dnt sell dem ooooooooooooooooooooooo

Haliburton scandal said...

The era of selling our national asset to their families and friends plus Paris club debt loading, change has come

Haliburton scandal said...

The era of selling our national asset to their families and friends plus Paris club debt loading, change has come

Anonymous said...

Now the people can see again...." THEY got no plans"..repair the refineries with our money(looting in progress),sell it and reloot d money .

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