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October 8, 2023

Sell off moribund refineries to private investors, Senator urges FG

refinery

refinery

John Alechenu, Abuja
The Chairman, Senate Committee on Finance, Sen. Sani Musa (APC, Niger East), has urged the Federal Government to sell off its holdings in the nation’s moribund oil refineries to private investors and use the proceeds to develop the mining sector to create jobs.

Musa made the call while fielding questions from journalists in Abuja, yesterday.

He noted that it was now obvious that the public owned refineries have become more or less a bottomless pit where funds are thrown into under the guise of turnaround maintenance with nothing to show for it.

The federal lawmaker said, “ For me , my candid advice to the federal government on the nation’s apparently moribund oil refineries , is for them to be  privatised .

“Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are  roaming the streets on daily basis .

“The youth constitute 70% of Nigeria’s  population and must be made to be productive which is doable if the mining and Agricultural sectors are re – positioned for that .

“The Not too young to run opportunity given to the youth in the political terrain , should be practically extended to the realm of innovation by providing them with conducive environment and enablement to innovate as it is , in most developed countries.”

Reflecting on Nigeria’s self governance which began 63 years ago, Musa described it as so far so good but that what was now needed was the right kind of leadership.

According to him, the right leadership he said will help in harnessing the abundant human and natural resources the country is blessed with , for the greatest good of the greatest number of her citizens .

He, however , noted  that the President Bola Tinubu -led All Progressives Congress administration , is towing the path of purposeful leadership and should be supported to take Nigeria to where it deserves to be.