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PDP tasks FG on Dangote refinery shares

Published

4 years ago

June 2, 2021

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The Peoples Democratic Party (PDP) has advised the Federal Government to ensure transparency in its planned acquisition of 20 per cent shares in Dangote refinery.

The PDP said this in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan in Abuja.

“The PDP has nothing against any genuine and honest incentives for private refineries, but we insist that such must not be used as avenues for siphoning funds from national treasury.

“The transaction must be made completely open, in terms of conditions for crude barter trade, duration, equity sharing and signatories among other things,” he said.

Ologbondiyan urged the National Assembly to take advantage of its oversight power on the Nigerian National Petroleum Corporation (NNPC) to ensure that the deal was transparent.

“The PDP insists that any process involving diversification of our nation economic interest by the government must be made open, transparent and not be used as conduit pipe for misappropriation,”

The federal government has announced plans to buy a 20 percent minority equity stake in the Dangote refinery which is the largest refinery in Africa.