Peter Obi, the former governor of Anambra state, has criticised the federal government for approving $1.5 billion for the rehabilitation of the Port Harcourt refinery.
On Wednesday, the federal executive council (FEC) approved $1.5 billion for the repair of the Port Harcourt refinery.
Timipre Sylva, minister of state for petroleum, said the rehabilitation will be done in three phases of 18, 24, and 44 months.
“The Ministry of Petroleum Resources presented a memo on the rehabilitation of Port Harcourt refinery for the sum of 1.5 billion, and that memo was $1.5 billion and it was approved by council today,” Sylva had said.
Reacting on Friday, Obi described the approval of $1.5 billion for the renovation of the refinery as “a huge waste”.
The former vice-presidential candidate said the country is on life support and approving such a whopping amount to repair the refinery amounts to financial rascality.
“The news of the planned expenditure of a whopping $1.5 billion for Port Harcourt refinery repairs is worrisome to well-meaning Nigerians. In light of our precarious economic situation, it is a huge waste,” he said.
“Our country on life support, but sadly the managers of our affairs are worsening the situation by their financial rascality.”
The Port Harcourt refinery has the capacity to refine over 200,000 barrels of oil per day at optimum capacity.
According to the latest report from the Nigerian National Petroleum Corporation (NNPC), it did not refine any crude oil in September 2020.
