The Senate has advocated for the privatization of underperforming oil refineries owned by the Federal Government.
This call to action was initiated by the Senate, led by its Finance committee, headed by Senator Sani Musa, who represents Niger East and is a member of the All Progressives Congress.
Senator Musa conveyed this proposal in Abuja on a Saturday, while addressing questions from journalists regarding the country’s course of action following the celebration of its 63rd Independence anniversary.
He emphasized that these refineries have become significant financial burdens for the government, particularly in terms of turnaround maintenance.
“For me, my candid advice to the Federal Government on the nation’s apparently moribund oil refineries is for them to be privatised.
“Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are roaming the streets on a daily basis.
“The youth constitute 70 per cent of Nigeria’s population and must be made to be productive which is doable if the mining and Agricultural sectors are repositioned for that.”
The Senator added, “The Not too young to run opportunity given to the youth in the political terrain should be practically extended to the realm of innovation by providing them with a conducive environment and enablement to innovate as it is, in most developed countries.”
