Connect with us
Categories:
X

News

What drives Atiku Abubakar’s desire to sell oil refineries

Published

on

Share this post:

Atiku Abubakar, the presidential candidate of the Peoples Democratic Party, PDP, has explained why he wants to sell Nigeria’s refineries.

During the PDP’s presidential campaign, Atiku pledged yesterday in Lagos to sell all of Nigeria’s refineries and use the money to give back to the country’s youth.

Why Atiku wants to sell refineries in Nigeria: According to Kola Ologbondiyan, spokesman for the PDP’s Presidential Campaign Council, Atiku decided to sell Nigeria’s refineries because the proceeds would be put toward productive projects in the country.

Ologbondiyan complained that the Nigerian government was frittering away money on restoring the country’s oil refineries.

He broke the news on Tuesday’s Arise TV Morning Show episode.

The real plan: Ologbondiyan claims that Atiku has proposed selling nonperforming ventures and refineries in order to redirect the funds into successful enterprises.

What Atiku is really saying: Atiku is saying let us generate funds from the sales of refineries and put it into the economy; I believe that policy is good.”

Nigeria has four refineries with a combined capacity of 445,000 barrels per day (bpd): one in the north at Kaduna and three in the oil-rich Niger delta region at Warri and Port Harcourt. The Port Harcourt complex consists of two plants with a combined capacity of 210,000 bpd.

The Dangote Refinery is an oil refinery owned by Aliko Dangote that is under construction in LekkiNigeria. When completed, it is expected to have the capacity to process about 650,000 barrels per day of crude oil, making it the largest single-train refinery in the world. The investment is over 25 billion US dollars.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment

Cryptocurrency
Technology6 hours ago

Meaning and Uses for Tether Crypto Explained

Bitcoin Cryptocurrency
Technology4 weeks ago

Have A Brief Idea About Bitcoin Mining And Its Operation

Mark Your Calendars For These 4 Premier Sporting Events Of 2023
Sports1 month ago

Mark Your Calendars For These 4 Premier Sporting Events Of 2023

How To Safeguard Your Crypto Wallet?
Technology2 months ago

How To Safeguard Your Crypto Wallet?

Angry youths chase Elumelu away as they disrupt PDP campaign in Delta
News2 months ago

Angry youths chase Elumelu away as they disrupt PDP campaign in Delta

Lai Mohammed
News2 months ago

FG recovers over N120bn from proceeds of crime – Lai Mohammed

News2 months ago

Tinubu says Peter Obi, Atiku lack track record to be president

Atiku Abubakar
News2 months ago

Plateau PDP set to receive Atiku

Peter Obi praises Gov Uzodimma’s leadership style
News2 months ago

Peter Obi praises Gov Uzodimma’s leadership style

Entertainment2 months ago

‘Free Mind’ by Tems enters 20th week on Billboard Hot 100

Kizz Daniel
Entertainment2 months ago

Buga by Kizz Daniel is the most searched song in Nigeria in 2022

News2 months ago

NJC Reinstates Justice Ofili-Ajumogobia As Judge Of Federal High Court

Man sentenced to 21 years in prison for stealing Lady Gaga's dogs
Entertainment2 months ago

Man sentenced to 21 years in prison for stealing Lady Gaga’s dogs

NNPC Ltd to disclose new asset base – Kyari
News2 months ago

Nigeria Records ₦‎16 Trillion Worth Of Crude Oil In 9 Months

Entertainment2 months ago

Broda Shaggi begs African fathers to hug their children

News2 months ago

Chatham House: APC slams Dele Momodu over comment on Tinubu

News2 months ago

Samuel Eto’o Apologises After Physically Attacking YouTuber

News2 months ago

N-Power Fraud: D’banj Arrested & Detained – ICPC Confirms, Releases Statement

News2 months ago

FG: Second Niger Bridge will open to traffic Dec 15

News2 months ago

2023 Polls Won’t Mar Nigeria – Sultan, CAN, SGF

Education2 months ago

ASUU Strike: CONUA threatens to sue FG over withheld salaries

Sports2 months ago

Eden Hazard announce retirement from international football

News2 months ago

2023: APC Has Failed Northerners, Muslim-Muslim Ticket Won’t Work – Shagari

News2 months ago

Teleprompters In Sight As Tinubu Spoke At Chatham House – Jaafar Shares Photo

Buhari
News2 months ago

2023: No manipulations of any form will be allowed, Buhari vows

News2 months ago

Kano Hisbah to destroy 18,000 bottles of beer

Entertainment2 months ago

Emancipation: Will Smith pulls you in with gritty realities of slavery era[Review]

Will Smith hopes ‘brutal’ depictions of slavery in Emancipation are ‘not in vain’, as he attends premiere in London
Entertainment2 months ago

I became more alive by facing my pain – Will Smith

Luis Enrique
Sports2 months ago

Spain manager full of praise for his players despite shock Morocco loss

Goncalo Ramos
Sports2 months ago

Goncalo Ramos reacts after taking Cristiano Ronaldo’s place in Portugal team

Frank Leboeuf
Sports2 months ago

Frank Leboeuf aims bizarre dig at Kieran Trippier

Sports2 months ago

Can the Three Lions outsmart France’s unstoppable star player?

Horoscope2 months ago

Your daily horoscope for Wednesday, December 7, 2022

Sports2 months ago

FIFA World Cup 2022: Goncalo Ramos nets first hat-trick of 2022 FIFA World Cup as Portugal trash Switzerland

Sports2 months ago

FIFA World Cup 2022: Yassine Bono the hero as Morocco knocks Spain out of World Cup

Godwin Emefiele
News2 months ago

CBN Drops ATM Withdrawal Limit To ₦‎20k/Day

TikTok logo
News2 months ago

‘TikTok Challenge’ Circulates Info-Stealing Malware – NCC

DOWNLOAD Complete Wednesday (TV series) (2022 film) Season 1 Subtitles File [English SRT] 2022
Movie Subtitle2 months ago

DOWNLOAD Complete Wednesday (TV series) (2022 film) Season 1 Subtitles File [English SRT] 2022

The vast network of antennas will form the world’s largest radio telescope
Technology2 months ago

The largest radio telescope in the world’s construction gets underway

News2 months ago

FG releases new curriculum for universities in Nigeria

ANE Billboard Hots