Don’t spend $1.5bn on ‘non-profitable’ Port Harcourt refinery, Reps tell FG

*Don’t spend $1.5bn on ‘non-profitable’ Port Harcourt refinery, Reps tell FG*

The Minority Caucus of the House of Representatives has asked the Federal Government to review its plan to rehabilitate the Port Harcourt refinery with $1.5bn.

Minority Leader, Ndudi Elumelu, in a statement, on Tuesday, described the refinery as “non-profitable”.

Elumelu said the figure was outrageous and heavily inflated.

“This over-bloated $1.5bn cost has again brought to the fore, the prevailing unpatriotic proclivity of treasury looting and criminal diversion of public funds through inflated contracts by officials of government for their selfish interests.

“It’s completely unexplainable that the sum of $1.5bn, belonging to Nigerians, is to be funneled towards the rehabilitation of a non-profitable refinery, which has already been slated to be handed over to private hands,” he said.