NNPC to hand over Nigerian refineries to private firms, remove subsidy - Kyari

NNPC to hand over Nigerian refineries to private firms, remove subsidy - Kyari

- According to the NNPC, Nigerian refineries will be handed over to private hands

- The NNPC's boss, Mallam Mele Kyari, said that this will take place as soon as the refineries are fully repaired

- Kyari also noted that the regime of fuel subsidy will be put to an end for the benefit of all Nigerians

After their rehabilitation, all Nigerian refineries will be handed over to private companies on Operation and Maintenance basis (O&M).

This was disclosed by Mallam Mele Kyari, the group managing director of the Nigerian National Petroleum Corporation (NNPC) on Wednesday, April 8.

Kyari explained that the federal government's motive behind this is to get the private sector to invest in the refineries and allow them to decide the fate of the plants where they are situated.

The NNPC boss said: “We are going to get an O&M contract, NNPC won’t run it. We are going to get a firm that will guarantee that this plant would run for some time.

"We want to try a different model of getting this refinery to run. And we are going to apply this process for the running of the other two refineries.”

He went on to say that this model, which in his opinion is different from all other previous ones, will ensure the desired outcomes of the refineries.

Added to this, Kyari stated that in the interest of common Nigerians, the fuel subsidy will be removed since, according to him, its benefits only accrue to the rich and wealthy in the country.

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Meanwhile, Legit.ng reported that the NNPC had announced the recruitment of 1,050 graduate trainees as part of its 2019/2020 employment exercise.

A statement from the corporation indicates the issuance of provisional offers of employment to the 1,050 fresh employees has commenced.

Many of the successful candidates and their loved ones have taken to social media to celebrate their successes.

Kyari stated that the outcome of the exercise reflected national spread and complied with all statutory requirements.

“We look forward to warmly receiving our new team members and working with them to build a corporation that all Nigerians will be proud of,” he said.

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Source: Legit.ng

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