MoU for Warri Refinery Rehabilitation Signed with Real Estate Company - Dele Oye

MoU for Warri Refinery Rehabilitation Signed with Real Estate Company - Dele Oye

Former President of the Organised Private Sector, Dele Oye, has raised serious concerns over the Nigerian National Petroleum Company Limited (NNPC)’s selection of two Chinese firms for the rehabilitation of the Warri and Port Harcourt refineries.In a statement, Oye disclosed that due diligence conducted on the selected companies, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd.  revealed significant red flags regarding their capacity and relevant experience.According to Oye, one of the firms has no track record in refinery turnaround maintenance and is currently facing financial constraints, casting doubts on its ability to effectively mobilize for the project. The other firm, he noted, operates primarily as a real estate company.“Compared with the contractors that failed us in the past, both appear less experienced and less qualified,” Oye said.The criticism comes amid reports of an MoU signed for the rehabilitation of the Warri Refinery with one of the firms, which Oye described as essentially a real estate operator.Oye also questioned the NNPC’s silence on the $1.5 billion reportedly approved for the Warri Refinery rehabilitation project.The remarks have sparked fresh debate about transparency and competence in the ongoing efforts to revive Nigeria’s aging refineries, which have remained largely inoperative despite repeated rehabilitation promises over the years.This latest development adds to longstanding public skepticism regarding the management and execution of major petroleum infrastructure projects in the country.

Source: MoU for Warri Refinery Rehabilitation Signed with Real Estate Company - Dele Oye

 - NigerianEye
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