Advice to sell refineries by IPMAN is sabotage – PENGASSAN

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has faulted the suggestion by the Independent Petroleum Marketers Association of Nigeria (IPMAN) that Nigeria’s local refineries be sold as scraps.

National Public Relations Officer of PENGASSAN, Comrade Emmanuel Ojugbana who disclosed this recently described the suggestion as a fraudulent way of ripping the country of its national asset.

Ojugbana who lauded the efforts of the government in resuscitating the refineries described the call by IPMAN as sabotage against national interest.

He said: “Nigerians need to ask the IPMAN leadership why they want the refineries which can be said to be in good form now to be sold as scrap. Even when the government has shown that the refineries can work and take care of 75% of the nation’s local demand of refined products”

He noted that the proof that the refineries are still viable and profitable was exhibited by the Port Harcourt Refining Company (PHRC), which posted a net profit of N11.2 billion for December 2014, representing N8.2 billion or 250 per cent above the N3.2 billion posted by the company in preceding November 2014, adding.

Ojugbana said the challenges facing the refineries is not that of ownership but rather inadequate management which the present government is aware of and tackling in other to ensure functionality of the four refineries,