Senate Urges FG to sell refinaries
The Chairman of the Senate Committee on Finance, Sen. Sani Musa, has suggested that the Federal Government should sell its shares in the struggling national oil refineries to private investors. He proposes that the revenue generated from this sale should be reinvested in the mining sector to generate employment opportunities.
Musa expressed his concerns during a discussion with journalists in Abuja, emphasizing that the government-owned refineries have become a continuous drain on resources due to recurring maintenance without tangible results.
He recommended, “In my opinion, the government should privatize these seemingly non-functional oil refineries. The proceeds from privatization could be directed towards the mining sector to create jobs for the large number of unemployed Nigerian youths.”
Musa further emphasized the importance of empowering the youth through innovation and fostering a conducive environment for them to thrive, similar to practices in developed countries. He also highlighted the need for effective leadership to tap into Nigeria’s abundant human and natural resources for the benefit of the majority of its citizens, given that the country has been self-governing for 63 years.