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Government commended over plan to privatise four refineries

27 November 2013, 16:25

Lagos - The Independent Petroleum Marketers Association of Nigeria (IPMAN), on Wednesday commended the Federal Government over its determination to privatise the nation’s four refineries.

IPMAN said that the government's plan would enhance the quality and supply chain of petroleum products across the country.

Chinedu Okoronkwo , Vice-Chairman of the association, gave the commendation in Lagos in an interview with the News Agency of Nigeria (NAN).

Okoronkwo also urged the Federal Government to ensure the accelerated rehabilitation of the refineries, before their scheduled privatisation in 2014.

According to him, the rehabilitation of the refineries will boost their production capacities and guarantee a sustainable supply of petroleum products in the country.

Okoronkwo, however, commended the management of the refineries for their efforts in sustaining the facilities, in spite of their enormous challenges.

NAN reports that there are strong indications by the Federal Government to privatise the nation’s four refineries, which have been operating far below their installed capacities.

The Minister of Petroleum Resources, Diezani Alison-Madueke, disclosed the government's intention during a recent media interview in London.

She said that the Federal Government had earmarked the Warri, Kaduna and the two Port Harcourt-based refineries for privatisation, as part of efforts to stimulate investment in the sector.

 - NAN


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