Human rights lawyer Femi Falana claimed that because Olusegun Obasanjo failed to follow the proper procedures when he proposed to sell the national asset, former President Umaru Yar’Adua turned down a consortium led by Dangote Oil for the sale of the refineries in Port Harcourt and Kaduna.
This is coming after Obasanjo stated that the late president turned down a $750 million offer to run the refineries in Port Harcourt and Kaduna in 2007 from Aliko Dangote, the chairman of the Dangote Group.
During his administration, Obasanjo indicated he had plans to address the issues facing the refineries in Port Harcourt, Warri, and Kaduna.
Falana, however, said in a statement released on Friday that Obasanjo had paid $561 million to Bluestar Oil for a 51% share in the Port Harcourt refinery.
Falana said that Bluestar Oil was a joint venture between Transcorp, Zenon Oil, and Dangote Oil.
He added that Yar’Adua thought the agreement did not adhere to due process and was not in the best interests of the country, The Cable reported.
âThe two powerful trade unions in the oil industry âthe National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) kicked against the privatisation of the two refineries on grounds of conflict of interest and lack of due process.
The unions went on a four-day strike after Falana said that the agreement was not in the best interests of the country.
TimesNow.com.ng reported that Ardova Plc, one of Nigeriaâs major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery.
In a statement on Monday, the Head of Brands and Corporate Communications, Ardova Plc, Grant Onome, noted that the development will guarantee supply security at affordable prices for its customers.
The statement claims that as a result of the partnership, Ardova Plc will be able to purchase the refinery’s entire range of petroleum products.
Source: TimesNow.com.ng
