President Jonathan Approves Privatisation Of Refineries...

President Jonathan Approves Privatisation Of Refineries 
The Bureau of Public Enterprise (BPE), on Friday in Abuja announced that President Goodluck Jonathan has approved the privatisation of the nation’s four refineries.

The Head of Public Communications of BPE, Mr Chigbo Anichebe quoted the President as saying that privatisation of the refineries was in keeping with the economic reform programme of his administration.

“This is in keeping with the transformation agenda, which seeks to catalyse and provide an enabling environment for the private sector to be the drivers of economic growth in the country.’’

The labour unions under the oil sector have all kicked against the planned privatisation of the refineries, but the statement also said that the President similarly approved the constitution of a Steering Committee which will advise the National Council on Privatisation (NCP), headed by Vice President, Namadi Sambo on the best way to privatise the refineries.

The Steering Committee is chaired by the Minister of Petroleum Resources, Diezani Alison-Madueke, while other members of the committee include the Minister of Finance and Coordinating Minister of the Economy, the Minister of Power, Minister of Labour, the Minister of National Planning, Minister of Mines and Steel Development and Minister of Justice, the chairman of the Extractive Sub Committee of NCP, Special Adviser to the Vice President on Economy, Group Managing Director of NNPC and Director General of BPE.

The Group Executive Director (Refineries), NNPC, the Managing Directors of the refineries are also members while the Director of Oil and Gas Department, BPE, will act as Secretary of the committee.

The four refineries are Port Harcourt Refining Company Ltd. (PHRC) I, Port Harcourt Refining Company Ltd. (PHRC) II, Kaduna Refining and Petrochemical Company Ltd. (KRPC) and Warri Refining and Petrochemical Company Ltd. (WRPC).