After gulping $1.5bn, the Nigerian National Petroleum Company Limited has now admitted that reopening the Port Harcourt Refinery is a waste of scarce resources. This belated admission validates my long-held position that Nigeria’s refineries should be privatised.
It is instructive that the Tinubu administration has finally come to terms with an inevitable truth: pouring public funds into moribund refineries is economically indefensible. Paying billions in salaries to facilities that produce not a single litre of petrol does not serve the national interest.
For years, I advanced this patriotic position and was vilified and accused of plotting to sell public assets to “friends.”
Today, the facts have caught up with the rhetoric. Decades of so-called turnaround maintenance have swallowed billions of dollars with nothing to show for it, exposing deep deficits in capacity, technical know-how, and financial discipline.
The latest push to “revive” these refineries was driven by political pressure, not economic sense. Politics must never substitute for sound, transformative policy.
Accordingly, any proposed refinery deal, including with foreign partners, should be discontinued, as it merely repeats failed models.
Nigeria would have been better served by selling the refineries pre-rehabilitation to avoid ballooning debt and the steady depreciation of what have effectively become liabilities. -AA
The Minister of Defence has provided more updates on a failed coup than on the 177 kidnapped victims in Kaduna who are still in captivity.
A failed coup🤷 which posed no immediate ongoing threat, is getting steady briefings and airtime, while 177 real human beings are still in captivity, suffering right now, and barely merit updates.
@khanofkhans11_ On my trip to ibadan last week, I set cruise mode to 120km/h. Car started vibrating at 110km. Took it for wheel balance the next day, and I was told that the pothole I entered a few days earlier had affected my alloy rim. I can either change my wheel 600k or stay below 100km/h
Religion did not kill Aunty Esther , Cancer did . So many Athiest have died from it , heck Steve Jobs the owner of Apple didn’t get spared even as rich as he was , it has killed people who believed in God and still took treatment . It’s the enemy here.
Honestly yall, If somebody wants to diie, i don’t see the argument, you people should allow the person die. I don’t see reasons trying to save someone who doesn't want to be saved..“This isn't about religious belief it's just pure madness”.
And let’s be for real, I'm not surprised about Aunty Esther’s situation.. She has consistently shown recklessness and a lack of care over the years, even when there's a serious issue or a family mourning on Twitter, she'll be there advertising her business with no empathy.
But of course, she’s “Twitters Favorite” so yall have always giving her a clear pass. Big HYPOCRITES
Isn’t it funny, how your religion allows you to “lie” listen! If you can lie, you can steal and cheat. Your religion permits all that, but won't allow a blood transfusion to save your OWN life??
That 30 million Naira raised can save 50-100 lives in today's Nigeria! Just channel the funds to people who want to live, and let those who want to diie do so in peace.