Author Topic: Petroleum Minister kachikwu reveals- We have no mandate to privatise refineries  (Read 169 times)

0 Members and 1 Guest are viewing this topic.

Offline internet police

  • Global Moderator
  • Hero Member
  • *****
  • Posts: 1519
  • Thanked: 2 times
  • Karma: +0/-0
  • do not spam this forum
    • View Profile

The Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Ibe Kachikwu, said on Thursday that the corporation did not have the mandate of President Muhammed Buhari to privatise the three functional refineries in Nigeria.

Kachikwu reiterated that the Federal Government had no plan to sell the nation’s refineries in Port Harcourt, Kaduna and Warri, adding that President Buhari only endorsed investing in the facilities.

The minister spoke at the official presentation of the ISO 9001:2008 Certificate to the Port Harcourt Refining Company in Eleme LGA, Rivers State.

Represented by the Chief Operating Officer of the refineries, Mr. Anibor Kragha, the minister said, “We have the mandate to deliver value and money to Nigeria.

“So, we will not privatise our refineries. Rather, we have the approval to seek funding that will take us to a higher level in production.”

The House of Representatives had stopped a move to privatise the three refineries by NNPC, pointing at a gross violation of the Bureau of Public Enterprises Act Section11, 2009.

Meanwhile, receiving the award in Port Harcourt, The minister thanked PHRC for being outstanding among the three refineries in the country.

Kachikwu said the Port Harcourt refining company had placed Nigerian refineries in the world class standard.

He stated that the award was well deserved, stating that PHRC had always performed in the effort to change the fortune of the nation.



Oil slump reveals structural defects in Nigerian economy

Started by jchima14

Replies: 0
Views: 276
Last post November 27, 2014, 09:08:51 AM
by jchima14
President Buhari Reveals Why FG has not published names of looters yet

Started by yungcrux

Replies: 0
Views: 140
Last post December 11, 2015, 06:43:41 PM
by yungcrux
United States Reveals How Nigeria can end recession

Started by internet police

Replies: 0
Views: 385
Last post December 09, 2016, 01:58:35 AM
by internet police
Nigeria FG Reveals What Recovered Looted Funds Are being Used For

Started by mastercode

Replies: 0
Views: 379
Last post October 11, 2017, 01:10:15 AM
by mastercode
CBN Reveals Why Naira is appreciating

Started by Naijaloaded

Replies: 0
Views: 290
Last post March 03, 2017, 08:56:27 AM
by Naijaloaded
Senate summons finance Minister over N2 Billion planted in Housing Sector budget

Started by mastercode

Replies: 0
Views: 328
Last post February 15, 2017, 09:22:05 AM
by mastercode
Nigeria Finance Minister Adeosun emerges new chairman of ECOWAS Investment Bank

Started by legendguru

Replies: 0
Views: 478
Last post August 23, 2017, 12:36:51 AM
by legendguru
Nigeria can’t rely on recovered loot to fund budget, we must borrow – Minister

Started by newspostng

Replies: 0
Views: 281
Last post May 17, 2017, 07:10:55 AM
by newspostng
Nigerian public officials stole $400billion in 30 years ? Former Minister

Started by ctytravellink

Replies: 0
Views: 300
Last post September 05, 2014, 09:12:33 AM
by ctytravellink
Zambian minister accuses Dangote Cement of bribery

Started by admin

Replies: 0
Views: 367
Last post September 17, 2014, 09:10:35 AM
by admin