curator
Administrator
Mr Dada Thomas, the Managing Director of Frontier Oil Ltd. Nigeria has commended the Federal Government on its plan to privatise the nation’s four refineries.
Thomas told the News Agency of Nigeria (NAN) in Lagos on Wednesday that government had no business operating refineries.
He described the privatisation of the refineries as a welcome development, adding that it would allow government to concentrate on policy formulation.
Thomas said that the exercise would engender more competition in the downstream sub-sector.
Thomas also said that the exercise would stop importation of petroleum products and check frauds associated with petrol subsidy payment.
We are all aware of great transformation in communication sector after the privatisation in the sector.
Today, there are people with more than two telephone sets and there is keen competition among the telecommunication companies.
We can access the world today from our handsets in the last 15 years; nobody would have believed that this kind of transformation will happen in the telecommunication sector.
Privatisation of the refineries will create room for competition among the successful bidders.
"This is what we expect after the privatisation of the four refineries," Thomas said.
Dada, however, urged the Federal Government to show transparency in the sales of the refineries.
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, had on Nov. 18, announced that the four ailing refineries would be privatised by the first quarter of 2014.
Mr Chigbo Anichebe, Head of Public Communication at Bureau of Public Enterprises, also said that privatisation of the refineries would be part of ongoing oil sector reform.
Previous attempts by President Olusegun Obasanjo to privatise Kaduna and Warri refineries failed.
Thomas told the News Agency of Nigeria (NAN) in Lagos on Wednesday that government had no business operating refineries.
He described the privatisation of the refineries as a welcome development, adding that it would allow government to concentrate on policy formulation.
Thomas said that the exercise would engender more competition in the downstream sub-sector.
Thomas also said that the exercise would stop importation of petroleum products and check frauds associated with petrol subsidy payment.
We are all aware of great transformation in communication sector after the privatisation in the sector.
Today, there are people with more than two telephone sets and there is keen competition among the telecommunication companies.
We can access the world today from our handsets in the last 15 years; nobody would have believed that this kind of transformation will happen in the telecommunication sector.
Privatisation of the refineries will create room for competition among the successful bidders.
"This is what we expect after the privatisation of the four refineries," Thomas said.
Dada, however, urged the Federal Government to show transparency in the sales of the refineries.
The Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, had on Nov. 18, announced that the four ailing refineries would be privatised by the first quarter of 2014.
Mr Chigbo Anichebe, Head of Public Communication at Bureau of Public Enterprises, also said that privatisation of the refineries would be part of ongoing oil sector reform.
Previous attempts by President Olusegun Obasanjo to privatise Kaduna and Warri refineries failed.
