APC chieftain, Bisi Adegbuyi dashes hope of Tinubu spending on the nation’s refineries, says they are obsolete

There are strong indications that the country’s Refineries may no longer have the capacity to serve the nation even in the nearest future if this revelation is anything to go by.

This is because the four refineries that was once the pride of the nation is said to be at the state of comatose with very low value.

A Chieftain of the ruling All Progressives Congress, Barr Bisi Adegbuyi while featuring on a televised program monitored in Lagos disclosed that all the Refineries are moreless a scrap.

The immediate past Post Master General of the Federation who is also a successful Lawyer said on the programme that a very reliable source in government told him that the refineries have become dysfunctional

The country has four Refineries in Warri, Port Harcourt and Kaduna.

According to him, they have become obsolete by the current global best standards.

Trillions of naira have been spent on the Turn Around Maintenance on the refineries since almost 24 years of the nation’s return to democratic rule.

The Labour unions were of the view that if the refineries are back to life, it will bring down litre of petrol to affordable price, reason they are expectant to hear from the President on the moribund assets.

Ms Diezani Allison Madueke was the substantive Minister of Petroleum Resources on the return of democracy in the country in1999 while Mr
Ibe Kachikwu and former Bayelsa state Governor,
Timipre Sylva served as Minister of State respectively.

Is it appropriate for the Tinubu led government to initiate a probe panel on the spending of trillions of naira on Turn Around Maintenance without any tangible results over the years?

Is it also reasonable business wise for President Tinubu to sell off the refineries to businessmen and deploy the money recoup to begin the construction of a brand new one?

One of the reasons why the latest nationwide protest led by the Nigeria Labour Congress and the Trade Union Congress went ahead was the alleged refusal by President Tinubu to speak in specific during the nationwide Broadcasts on what his plans are on the moribund Refineries.

The richest man in Africa, Alhaji Aliko Dangote is on the verge of competing a multi-billion dollar Refinery in Lekki area of Lagos.

The $19 billion Dangote petrochemical refinery is the world’s largest single-train petroleum refining facility.

There are high expectations from Nigerians on how soon the Dangote Refinery will begin work bearing in mind the rising cost of petrol in the country. However, only time will tell if indeed the advent of Dangote Refinery will bring succour to Nigerinas to force the price down.

Many Nigerians are also asking the questions on what will be the fate of thousands of NLC, NUPENG and TUC members who earns salaries in the ailing Refineries without any justification if eventually government accept to trade them off.

Nigeria over the years had paid lip service to the management and administration of the oil sector after the discovery of crude oil in 1956 at Oloibiri in present-day Bayelsa State.