Fidelity bank card banner Camano banner
Senate halts planned concession of Port Harcourt Refinery

By Owede Agbajileke, Abuja on 28/07/2017

Views: 997

•Port Harcourt Refinery.
•Port Harcourt Refinery.

The Senate on Thursday resolved that the planned concession of Port Harcourt Refinery should be halted to allow for a transparent process.

It accused the Minister of State for Petroleum Resources, Ibe Kachikwu, and the management of the Nigerian National Petroleum Corporation (NNPC), of failing to ensure transparency in the process of engaging ENI/NAOC and Oando as financiers to rehabilitate and improve performance of the refinery.

In a report presented by the Chairman of the Adhoc Committee on Planned Concession of the Port Harcourt Refinery to AGIP/ENI and Oando Plc, Abubakar Kyari and adopted by the Senate, lawmakers stressed that the process to rehabilitate refineries must be open, competitive and transparent, with the participation of all relevant stakeholders.

The Senate said if the process is not open, it would be interpreted as backdoor transfer of the asset to a preferred investor.

It also resolved that the discussions with ENI/NAOC with respect to revamping of Port Harcourt Refinery must be discontinued forthwith and an open, competitive and transparent process put in place to ensure that the nation derives the full benefits of involving private sector investors.

Part of the report read by the committee chairman, Kyari and adopted by the Senate, states that: “A competent independent technical consultant should be engaged to review the diagnostic report (under preparation) on Port Harcourt Refinery and recommend a suitable strategy for attracting private sector investment, taking into consideration re-appraised rehabilitation cost estimates, environmental concerns of host communities and labour issues.

“Public invitation for bids under clearly spelt out terms and conditions should be re-advertised. The Ministry of Petroleum Resources, NNPC, Bureau of Public Enterprises and others should collaborate for national interest in accordance with extant laws.” (BD)


 

Source News Express

Posted 28/07/2017 12:51:47 PM

 

 

CLASSIFIED ADS

 

You may also like...
Air Force hits Boko Haram’s facilities

Ex-NNPC boss Andrew Yakubu withdraws suit against EFCC,...

Why we killed our girlfriends — 3 suspects...

PDP raises alarm over alleged massive diversion of...

N385m debt: Union Homes sues Stella Oduah

Woman miraculously survives ghastly auto crash

Anambra 2017: Go and fish for new members,...

Anambra House stops diversion of state’s internally generated...

Prevail on Army to release Nnamdi Kanu, IPOB...

Ministerial ‘Tani o Mu Mi’, by Segun Adeniyi...

How government undermines trado institutions

36,000 to undergo HIV test in Ikorodu Lagos...

 

Latest News Terror attacks imminent in Nigeria — UK •Warns citizens to avoid 24 states Catholic bishop to Buhari: Hunger, insecurity reign; quit if you can’t cope Kidnapping: OPC issues 7-day ultimatum to herdsmen Amnesty Programme empowers 2,190, trains 800 Kano elders tell Ganduje to reverse new emirate law 27,000 killed in North-East Nigeria attacks since 2009, says UN Insufficient commitment by troops on frontlines affects Army operations — Buratai AbdulRazaq suspends Kwara LG councils for six months NCAA begins demolition of 8,805 telecom masts 2,000 Nigerian women die annually of unsafe abortion ― Gynaecologist Woman, 67, charged with hacking bank account, stealing N16m EFCC secures forfeiture of N60m cash traced to Ex-SSG

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,836 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,691 views) Shameless Genevieve Nnaji exposes breasts in public (365,546 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (312,152 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,431 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (244,119 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (234,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (216,006 views) 10 cars more expensive than Jets (213,078 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,580 views) Lagos plane crash: Journalist releases victims’ names (184,641 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,953 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (94) Business & Economy (4,315) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (624) Features (762) Global Business Monitor (379) ICT Monitor (53) International (3,602) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (305) News (47,499) Opinion (1,260) Pidgin (17) Politics (11,034) Religion (1,024) Sports (2,045) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera