More reactions have continued to trail the Federal Government’s approval to spend the sum of 1.5 billion dollars for the rehabilitation of the Port Harcourt Refinery.
Those who spoke with reporters in Warri are of the opinion that spending such a huge amount of money on the refinery may not be the right thing for the government to do considering the present state of the refinery and previous funds spent on revamping it without achieving the desired result.
For over two decades, Nigeria’s refineries have operated at a dismal under-capacity utilization due to mismanagement and corruption.
Billions previously approved for its turn-around-maintenance have simply gone down the drain.
That is why the recent approval by the Federal Government to spend over one billion dollars for the rehabilitation of the Port Harcourt Refinery has been greeted with outrage.
While some are of the opinion that the country needs new refineries, others believe that complete overhaul and privatisation is the best option.
For now, many are still unconvinced that the government’s decision on the Port Harcourt Refinery makes economic sense at a time a massive private refinery is set to come on board.
