Senate Says Nigeria Refineries Bottomless Pit, Advises FG To Privatise

The Chairman, Senat Committee on Finance, Sani Musa on Saturday said Nigeria refineries have more or less turned into bottomless pits for the government as far as turnaround maintenance is concerned.

This was as he called for the privatisation of moribund oil refineries owned by the Federal Government.

Musa made the call in Abuja while fielding questions from journalists on the way forward for Nigeria, 63 years after independence.

According to him “For me, my candid advice to the Federal Government on the nation’s apparently moribund oil refineries is for them to be privatised.

“Proceeds from such privatisation should be sunk into the mining sector for job creation for the teeming Nigerian youth who are roaming the streets on a daily basis.

“The youth constitute 70 per cent of Nigeria’s population and must be made to be productive, which is doable if the mining and agricultural sectors are repositioned for that.

“The Not-Too-Young-To-Run opportunity given to the youth in the political terrain should be practically extended to the realm of innovation by providing them with a conducive environment and enablement to innovate as it is, in most developed countries.”

• Kazeem Badmus