Former Vice President of Nigeria and 2023 PDP Presidential Candidate, Atiku Abubakar, has voiced his long-standing advocacy for comprehensive reforms in Nigeria’s oil sector and other areas of the economy.
In a post on his social media page, Atiku expressed his disappointment with the current administration’s handling of the country’s refineries and the recent decision to privatize a rehabilitated facility.
Atiku highlighted that his stance on the need for reforms is well-documented in “The Atiku Plan” (2018) and “My Covenant with Nigerians” (2022). He emphasized his consistent call for the Buhari administration to break the monopoly in various infrastructure sectors, including refineries, and encourage both foreign and domestic investors to play a more significant role in funding and management.
The former vice president criticized the government’s failure to heed these suggestions, citing the refusal to privatize the refineries as a significant missed opportunity. He pointed out that the refineries were left idle for an extended period, resulting in substantial salary payments to staff. Moreover, Atiku expressed concern over the administration’s decision to secure a loan of US$1.5 billion for rehabilitation.
In a surprising turn of events, Atiku raised objections to the current administration’s plan to transfer the rehabilitated refinery to private entities for operation and maintenance. He argued that, irrespective of the terms of the agreement between the Nigerian National Petroleum Corporation (NNPC) and the private operators, it would have been more prudent for the NNPC to have sold the refinery before rehabilitation, thereby avoiding the burden of debt.
Atiku called on the NNPC to provide a satisfactory explanation to the Nigerian people regarding the perceived benefits of their new approach to privatization. He emphasized the need for transparency and accountability in ensuring that the interests of Nigeria and Nigerians are safeguarded in the process.
As discussions on the future of the country’s oil sector continue, Atiku Abubakar’s critique adds a significant voice to the ongoing discourse, raising questions about the government’s strategy and its potential impact on the nation’s economic landscape.
