Reps stop NNPC’s bid to sell 3 refineries

ABUJA — THE House of Representatives Committee on Privatisation, yesterday, stopped the proposed sale of the nation’s three refineries by Nigerian National Petroleum Corporation, NNPC. They are Port-Hacourt, Kaduna and Warri refineries. The committee made the pronouncement after engaging officials of the NNPC and the Bureau of Public Enterprises,BPE, on the exercise and   declared that NNPC violated the provisions of  BPE Act Section 11 of 2009 During the interactive session, members of the committee accused the NNPC of acting unilaterally by going ahead with the exercise without involving other stakeholders as contained in the Act. Exchange  of words Before making the declaration, chairman of the committee, Ahmed Yerima, said there was an exchange of words between the Group Executive Director of the NNPC in charge of refineries, Mr Anibor Kragba, and the members of the committee which led to abrupt adjournment of the sitting. Before the sitting commenced, members of the committee were not particularly happy when  informed that the Group Managing Director of the NNPC, Dr Ibe Kachikwu, who is also Minister of State for Petroleum Resources, was being represented by the Group Executive Director, Anibor Kragba Most members of the committee kicked against the arrangement, insisting that the Minister of State should appear personally at a later date to explain why the NNPC was planning to sell the refineries without following due process. The lawmakers said their action was based on past experience with the corporation when its chief executives failed to honour invitations extended to the organisation. However, after assurances from the corporation’s Group Executive Director that he had the mandate of the minister to represent him and was competent to handle the matter in question, he was allowed to represent Kachikwu.





For the full story, check the Vanguard newspaper.




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