Obasanjo Lists 4 Reasons Nigeria’s Refineries Will Never Work

• Nigeria's four refineries, located in Warri, Port Harcourt and Kaduna, are reportedly being held by the federal government
• Former President Olusegun Obasanjo made this known as he maintained the refineries would never see the light of the day due to the powers that be
• The elder statesman disclosed further that there is too much corruption in the nation's refineries; hence, Shell bluntly refused to handle them while he was in power

Ogun state, Abeokuta - Former President Olusegun Obasanjo has revealed why the four oil refineries in Nigeria will never work.

Obasanjo said the four refineries in Warri, Port Harcourt and Kaduna will never work as long as the government continues to hold onto them, Leadership reported.

The former president, who stated this in an interview with TheCable, published on Tuesday, September 5, said Shell Petroleum Development Company turned down his offer for them to run the refineries.

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He disclosed that after much persuasion, the managing director of Shell at the time listed four reasons why the oil company wouldn’t get involved in running Nigeria’s refineries, including “too much corruption.”

Recall that President Bola Tinubu last month assured that the petroleum refinery in Port Harcourt will start working by December 2023.

Why Nigeria’s refineries will never work

Speaking further, Obasanjo listed the four reasons the refineries will never work according to Shell.

1. Shell makes its money from upstream, and that is where its interest lies.
2. They only do downstream or retail as a matter of service.
3. Our refineries would be bad business for them, and that globally, companies are going for bigger refineries because of the economics of refineries.
4. Fourth, he said there is too much corruption in refineries.

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Obasanjo finally speaks on $6bn Mambilla power contract

Nigeria's former president said he never approved the award of the controversial $6 billion contract to Sunrise Power and Transmission Ltd regarding the Mambilla Hydropower Project in 2003.

Obasanjo said this in an interview excerpt published by TheCable on Sunday, September 3.

Legit.ng gathers that the former president challenged Olu Agunloye, the former minister of power and steel, to tell Nigerians where he derived the authority to award the $6 billion contract.

"He had integrity and would not steal" - Obasanjo reveals why he picked Yar’Adua

Former President Olusegun Obasanjo said the late President Musa Yar’Adua was ranked higher in the search for a successor.

Obasanjo said he took the decision to select Yar’Adua as his preferred choice despite knowing he was ill.

According to him, medical advice showed that Yar’Adua, who had a kidney transplant, was fit to rule as president.

Source: Legit.ng