Mohammed Fawehinmi, first son of the late legal luminary and renowned human rights activists, Chief Gani Fawehinmi, has decried the attempt by the Nigerian government to rehabilitate the Port Harcourt refinery with $1.5 billion.
Mohammed in a statement on Tuesday said the amount to be expended on the ‘dead Port-Harcourt refinery’ can build 6 brand new separate ultra-modern ones in different locations within the country.
The Federal Executive Council had last Wednesday approved $1.5 billion for the rehabilitation of the refinery in Port Harcourt.
The approval has expectedly been greeted with mixed feelings as the country has in the past spent billions of dollars on refinery maintenance.
Despite such expenditure, however, the refineries have not worked with many experts calling for their privatisation.
According to Mohammed, at the rate of $250 million each, Nigeria will have six brand new refineries which can be built in a record time of 9 months simultaneously.
He said, “After so many years of squandering the nation’s wealth on frivolities and being looted by known principal actors of previous successive governments, I believe it is time the current Federal Government of Nigeria applies wisdom in reviving the Nigerian Economy.
“The $1.5 billion to be expended on the dead Port-Harcourt Refinery can build 6 brand new separate ultra-modern refineries in 6 separate locations in Nigeria where there are abundance of oil wells namely: Bayelsa State, Ondo State, Awka-Ibom State, Delta State, Imo State and Rivers State.
“At the rate of 250 million dollars each, Nigeria will have 6 brand new refineries which can be built in a record time of 9 months simultaneously.
“This will go a long way to: Reduce the price of petroleum products namely Petrol, Kerosene, Diesel and Jet A1 Fluid, Engine Oil and other lubricants. It would create employment for the vast amount of unemployed youth wanting to flee the country in search of greener pastures.
“The market forces would create healthy competition in the industry. The days of scarcity of petroleum products would be over. The Nigerian Economy would bounce back vibrantly in the shortest possible time.
“The Federal Government would be able to generate vast amount of revenue.
The President who doubles as the Minister of Petroleum and the current Minister of State for Petroleum will do the country best if they are to follow this advice. Let us stop the wastages.”