General
Spending $1.5bn on PH refinery’s renovation suspicious, says Atiku
Former Vice President, Atiku Abubakar, has raised suspicion over the Federal Government’s proposed renovation of Port Harcourt refinery.
Recall that the Federal Executive Council on Wednesday approved $1.5bn (N572.3m) for the Ministry of Petroleum Resources to rehabilitate the Port Harcourt Refinery.
The decision was taken at the weekly meeting of the council presided over by the President, Major General Muhammadu Buhari (retd.).
Reacting to the news on Thursday via his verified Twitter handle, the former presidential candidate of the Peoples Democratic Party said the amount approved by the government is suspicious.
His official statement titled, ‘$1.5b To Renovate Port Harcourt Refinery Is Suspicious At The Least’ read:
“We cannot, as a nation, expect to make economic progress if we continue to fund inefficiency, and we are going too deep into the debt trap for unnecessarily overpriced projects.
“Our national debt has grown from ₦12 trillion in 2015 to ₦32.9 trillion today. Indeed, that is shocking enough to cause us to be more prudent in the way we commit future generations into the bondage of bonds and debt,” he said.
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