The government also said the planned revamping of the Port Harcourt Refinery would cost the country about $300 million.
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, made the clarification at a sitting of the Senate ad-hoc committee on “the planned concession of the Port Harcourt Refinery to Agip/Eni and Oando plc.”
The Chairman of the ad-hoc committee, Senator Abubakar Kyari, asked the minister to clarify the statement credited to him that the federal government was sourcing for investors to take over the Port Harcourt Refinery.
A member of the committee, Senator Dino Melaye, also asked Kachikwu to tell the committee whether the Memorandum of Understanding (MoU) on the concession had been signed.
Melaye wanted the minister to react to another report that approval for the concession had already been given by the federal government.
Kachikwu, in his response, said the government has not approved the concession of the Port Harcourt Refinery.
He, however, said government would no longer finance the turnaround maintenance of refineries in the country. PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> How I Made Me =N=2.5 MILLION In 7 Days from 2 Common Product I Imported and how you can do the same. Click HERE FOR FREE Details right now Warning To Men: This 3 Foods Is Killing Your Erection. Click Here To Know Them Secret Fruits that increased my Manhood and makes me last 55 minutes+ all time - Click here to get it Warning: Got Arthritis? 3 Simple Ways To Get Cured And Be Permanently Free From Joint Pains. Click Here To See Them REVEALED!! Reduce Your Blood Sugar Level And Reverse Diabetics Within A Short Period Of Time. Click Here To See How MIDNIGHT,Pressed Mr Kilanko Suddenly Couldn't Urinate. Shrink your Enlarged Prostrate Here! Click Here Now