Senate Investigates $1.5 Billion Spent on Port Harcourt Refinery with Little Result
The Nigerian Senate has raised concerns over the $1.5 billion approved in 2021 for the turn-around maintenance of the Port Harcourt Refinery, noting little to no progress.
Senator Opeyemi Bamidele, Chairman of the Senate Ad Hoc Committee on Alleged Economic Sabotage in the Nigerian Petroleum Industry, voiced these concerns during a stakeholder session on Wednesday in Abuja.
Bamidele, who is also the Senate Leader, criticized the poor treatment of public companies compared to flourishing private businesses.
He recalled that the Federal Executive Council had approved the rehabilitation plan by the Ministry of Petroleum Resources.
Despite significant investments, the government-owned refineries remain dysfunctional, causing irregular and problematic distribution of refined petroleum products.
Bamidele also highlighted the issue of importing hazardous petroleum products and substandard diesel. He emphasized the need for a transparent and efficient management of the country’s refineries.
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