Reps urge FG to review $1.5bn Portharcourt Refinery repairs cost

March 31, 2021
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The Minority Caucus of House of Representatives has called on the federal government to review the proposed $1.5 billion for the rehabilitation repairs of Portharcourt Refinery.

In a statement signed by the Minority Leader, Rep Ndudi Elumelu, on Tuesday, the caucus said the figure was outrageous and heavily inflated.

It added that a critical cost analysis revealed an alleged huge scam and a ploy by unscrupulous elements to hide under the guise of rehabilitation of the refinery to siphon public funds.

The caucus noted that while it supports any genuine effort to bridge the energy deficit in Nigeria, such should not be used as a ploy by corrupt individuals to fleece the nation.

It, however, added that the project can be transparently executed at an amount, far less than the approved over-bloated cost.

“This over-bloated $1.5 billion cost has again brought to the fore the prevailing unpatriotic proclivity of treasury looting and criminal diversion of public funds through inflated contracts by officials of government for their selfish interests.

“It is completely unexplainable that the sum of $1.5 billion, belonging to Nigerians, is to be funnelled towards the rehabilitation of a non-profitable refinery, which has already been slated to be handed over to private hands,” the caucus added.

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