No New Refinery With Greater Capacity Than That Of Port Harcourt Can Be Bought For $1.5billion; Group Tackles Falana
……Says Government has no plans to sell fuel at N500 per Litre before December
The Integrity Youth Alliance has has tutored Human rights lawyer, Femi Falana that no new refinery with greater capacity than the Port Harcourt can be bought or built with the sum of $1.5 billion.
In a press release on Monday, 29th March, 2021 signed by its Secretary General, Danjuma Lamido, he said that Femi Falana should know that the Port Harcourt Refining Company operates two refineries. The old refinery with a nameplate capacity of 60,000 barrels per stream day (bpsd) and new refinery with an installed capacity of 150,000 bpsd.
The two refineries bring the Port Harcourt Refinery’s combined crude processing capacity to 210,000bpsd and no new Refinery with 210,000bpsd will sell for $1.5billion as postulated by Femi Falana.
The Group also cautioned the Human rights lawyer on the speculations that a litre of PMS for N500 before the end of the year.
It will be recalled that Falana spoke at the weekend in Abuja during a two-day conference of the People’s Alternative Political Parties Summit titled, “A New Nigeria Is Possible”.
The legal practitioner, who delivered the keynote address at the summit, highlighted the President’s past comparison of the prices of fuel in Nigeria and neighbouring countries.
Danjuma said people like Femi Falana should join the Nigerian Labour Congress by supporting the rehabilitation of not only the Port Harcourt Refinery but all other Refineries in the country.
Falana condemning the $1.5 billion budget for the rehabilitation of the Port Harcourt approved by the Federal Executive Council, shows he need more enlightenment to know the advantages of rehabilitating all the refineries in the county as this is bound to reduce the pump price of fuel and create employment among others.
The Alliance reminded Femi Falana that President Buhari will never condoned illegality as the money has gone through all legal process with the approval of the Senate.