The Chairman of the Nigerian Governors’ Forum and Ekiti State Governor, Dr. Kayode Fayemi, has faulted the decision to rehabilitate the Port Harcourt Refinery and Petrochemical Company with $1.5 billion.
Fayemi said this on a Channels Television programme: “Hard Copy,” on Friday.
He, however, added that there was the need for more information to justify the rehabilitation of the refinery that had remained idle over a long period.
The rehabilitation of the refinery was approved by the Federal Executive Council on March 17 for $1.5 billion.
The Minister of State for Petroleum, Timipre Sylva, told State House Correspondents after the FEC meeting at the Presidential Villa in Abuja that the first phase will be completed in 18 months, which takes the refinery to a production of 90 per cent of its capacity, the second phase will be completed in 24 months, while the final phase will be completed in 44 months.
Fayemi, however, faulted the planned project, noting that a private refinery built by Africa’s richest man, Aliko Dangote, was underway.
He said: “I wouldn’t have taken that decision given the fact that we know that a big refinery, private-sector driven is coming on stream, but I don’t have the information that led to that decision at first.
“When you are outside a decision-making frame, there is some information that may not be available to you if you look at it at the pure face value.
“It may not be justifiable but we don’t have all the information responsible for that decision.”