A community stakeholder, Dr. Joseph Obele, has expressed strong dissatisfaction with the decision by the Nigerian National Petroleum Company Limited (NNPCL) to exclude the Port Harcourt Refining Company from its privatization plans.
While NNPCL is reportedly preparing to sell the Warri and Kaduna refineries, the decision to retain Port Harcourt under its management has drawn criticism from stakeholders like Dr. Obele, who argue that the state-run oil giant has a poor track record of efficiency, transparency, and accountability.
“This is not good news,” Dr. Obele said, warning that keeping the Port Harcourt refinery under NNPCL’s control could result in continued mismanagement, corruption, and neglect. He cited past failures that have led to persistent fuel scarcity, inflation, and economic hardship for Nigerians.
Drawing a contrast with private operators such as Indorama Petrochemical, which he said have shown more commitment to host communities, Dr. Obele argued that privatization would offer a wide range of benefits, including: Improved efficiency and productivity.
Greater capital investment, transfer of expertise and advanced technology, job creation and economic revitalization.
Reduction in bureaucratic bottlenecks, enhanced transparency and accountability.
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Increased competitiveness and resource optimization, boosted government revenue. Higher-quality petroleum products.
According to him, “The gains of privatization far outweigh the costs. It is in the best interest of the host community and the nation at large.”
Dr. Obele, who lectures at the Ignatius Ajuru University of Education and serves as National PRO of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), called on President Bola Tinubu to reverse the decision and ensure that the Port Harcourt Refinery is included in the privatization process.
He added that the local community is open and ready to work with any private investor that takes over the refinery.
“We assure any private firm of a warm welcome and collaborative working relationship to ensure the refinery’s success, which will in turn benefit our community and the nation,” he said.
