Turnaround Maintenance: TUC Says Federal Government Wasted $9.5bn On Dead Refineries

The Trade Union Congress, TUC has criticized the Federal Government for flaunting moribund refineries after wasting 9.5 billion dollars in the last 10 years in the name of turnaround maintenance.

National President of the TUC Quadri Olaleye also frowned at what he described as deep-seated corruption and legendary tardiness that crumbled the refineries, leaving the nation with no option than to become importer of refined petroleum products.

Olaleye, who spoke in Abuja at the inauguration of new executives of Independent Petroleum Marketers Association, IPMAN, urged the government to take realistic measure to put the ailing refineries in order and encourage private sector participation in establishing modular refineries to mitigate the huge cost of importation of refined products.

He also explained that even with Nigeria’s status of being one of the largest oil producing countries, the energy crises that have befallen Nigeria as a nation are well known and this is solely due to the incompetence and corruption of the government.

Nigeria is the only Organization of the Petroleum Exporting Countries, OPEC member country that imports more than 90 to 95per cent of refined petroleum products for consumption.