A former Minister of Finance, Budget, and National Planning Olu Falae believes Nigeria should repair and sell off its refineries, maintaining that the government is incapable of running them.
For decades, Africa’s most populous nation and one of the continent’s largest crude producers has depended on fuel imports to meet local demand because of under-performing state-run refineries – located in Warri, Port Harcourt, and Kaduna.
But Falae on Thursday called for a different approach.
“My belief is that Nigeria’s problem with fuel and its price will be substantially resolved when we are able to repair and recommission our refineries and sell to companies that know how to run refineries,” the elder statesman said on Channels Television’s Politics Today.
“We should not try to run them ourselves because if we try to do so, politics will intervene and we will mismanage them. I am sorry to say this,” he said.
