A former military administrator of Ogun state, Commodore Kayode Olofinmoyin (rtd), Tuesday appealed to the federal government to revoke the $1.5 billion Port Harcourt refinery turn around maintenance (TAM) contract.
The former MILAD made the call on the heels of the Dangote refinery coming up stream before the turn around maintenance (TMA) is concluded.
He stated that the refinery contract is a clever way to defraud the country with international collaborators.
According to him, “My recommendation as a former military administrator of Ogun state is that, it is a bad deal. The federal government should please repeal the contract. It is a clever way to defraud Nigeria with international collaborators.”
Pointing out that Dangote refinery is the largest in the world, Olofinmoyin queried how a refurbished, badly run government refinery would compete with the latest and cutting-edge technology privately run refinery.
“Dangote refinery is the largest and the best in terms of latest technology in the world. How does a refurbished, badly run government refinery compete with the latest, cutting edge technology privately run refinery. It is deal on arrival.
“This is going to be the biggest financial heist in our recent history. The minister of Petroleum is the President of the Federal Republic of Nigeria, who no doubt must have endorsed the deal,” he said.
Olofinmoyin further stated that it is shocking and amazing that, the minister of Petroleum didn’t factor in what he called, the aggressive Dangote onslaught in the business world, when it comes to business competition. He noted that it was aimed to run competitors aground.
He recommended that the federal government should spend $1.5 billion each on the following; national security, education, industrial development to provide employment, agriculture, infrastructure to create large scale employment and power generation.
“I watched the interview of my friend, Tunde Lemo, on Channels TV; it was a masterpiece from a financial egghead.
“I am particularly impressed with his discussion on the issue of the $1.5bn PH refinery turn around maintenance (TAM) in relation to Dangote refinery coming up stream before the TAM is concluded,” he said.
