Privatising Kaduna Refinery not best option – KRPC MD

Managing Director of the Kaduna Refining and Petrochemical Company (KRPC), Adewale Ladenegan, has said privatising the facility is not the best option of maximising its potential.He made the assertion while speaking with members of the House of Representatives Committee on Petroleum Resources (Downstream) who paid an oversight visit to the refinery.

Responding to a question posed by Chairman of the committee, Joseph Akinlaja, on whether privatisation of the plant, which has been grounded for almost a year is a viable option, he said the National Electric Power Authority (NEPA) and Nigerian Telecommunication Company (NITEL), which had been privatised, have not yielded the desired results. He lamented that the decision only made the country poorer and rendered many Nigerians jobless.

Ladenegan said the plant only needed adequate financing, adding that upgrading its obsolete equipment to electronic operations and robust management would ensure its optimal operation.“I will say no to privatisation, because we have not seen the positive results of all the nation’s assets that have been privatised. If you give the refinery to those who have the money, they will still use the same people to run it,” he said.

Source: The Guardian

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