Civil Societies to FG: Fix refineries before privatisation
The Coalition of Civil Societies yesterday urged the federal government to fix refineries before privatising them.
This, it said, will allow for different bidders and create more jobs.
This was stated during a media chat by the group at the weekend.
Its covener, Solomon Olonade, said: “We call on them to immediately operationalise the refineries to function at a minimum of 70% of the installed capacity before re-engaging the argument for their possible commercialisation or privatisation.”
He added that there is far much more to the issue of the refineries privatisation than what immediately meets the simple trusting eye.
While lamenting the loss of N1trillion annually to the offshore processing agreements and crude for products swap, Olonade said this loss is enough to repair local refineries.