Reps To Investigate $1.5bn Port Harcourt Refinery Rehabilitation Cost




The House of Representatives, Wednesday resolved to set up investigative panel to submit a comprehensive audit of funds so far expended on the maintenance and rehabilitation of the nation’s refineries.
 
A member of the Representatives, Onofiok Luke who moved the motion, said it was a "matter of public importance".
 
The lawmakers who expressed worry that so much had been spent on maintaining and rehabilitating the refineries but the outputs were not productive asked the Federal Government to grant licenses and provide incentives for the construction of modular refineries.
 
Recall that last week, the Federal Executive Council (FEC) approved $1.5 billion for the rehabilitation of the Port Harcourt refinery which was said to commence immediately.
 
Since the move by the federal government to expend $1.5 billion for the rehabilitation of the Port Harcourt refinery has come to public space, criticisms from different angles have justified that such a move is a typical waste of capital.
 
The former Vice President Atiku Abubakar criticized the rehabilitation exercise, said it was a waste of resources.
 
Several others who faulted the proposal also included the Chairman of the Nigerian Governors’ Forum and Ekiti State Governor, Kayode Fayemi, said
more information is needed to justify the rehabilitation.
 
He decried the planned project, noting that a private refinery built by Africa’s richest man, Aliko Dangote is underway.

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