FG has no plan to privatise refineries – Kachikwu

The Federal Government has said it has no plan to privatize or concession the country’s three refineries in Warri, Port Harcourt and Kaduna.

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said this when he received members of the House of Representatives Committee on Petroleum (Upstream), who were on an oversight visit to the ministry on Tuesday.

Kachikwu said the Federal Government only favours private investment, adding that it would not spend money on them anymore.

Kachikwu said the government was working hard to bring in private investment capital to strengthen the plants in order to boost the nation’s local refining capacity.

“Government’s money will not be committed to the refineries anymore,” Kachikwu said.

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