House of Representatives Committee on Privatisation yesterday halted the proposed privatisation of the three refineries in the country by the Nigeria National Petroleum Corporation, NNPC.
The three refineries are located in Port-Hacourt, Kaduna and Warri respectively
The committee made the pronouncement after engaging the officials of the NNPC and the Bureau of Public Enterprises, BPE in the National Assembly complex.
While saying that the proposed exercise by the NNPC violated the provisions of the BPE Act, the committee accused the NNPC of acting unilaterally by going ahead with the exercise without involving other stakeholders as contained in the act
In his ruling, Chairman of the Committee, Hon. Ahmed Yerima ruled that the NNPC should stop the exercise with immediately for gross violation of the BPE act.
“We are preaching change, change in our ways of doing things for the betterment of the country and yet we the leaders are doing things the other way round. Impunity is still rampant. I am a member of the All Progressive Congress and I promised the people of real change before they gave us their votes”, he stated
Earlier, the Acting DG of the BPE, Mr Akpotaire had raised some fundamental issues of the privatisation exercise that needed to be sorted out before it could be done in the interest of the nation, saying that BPE was not part of the process.


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