Chemical Engineers Seek Private Control of Moribund Refineries

The Nigerian Society of Chemical Engineers (NSChE) urged the Federal Government to privatise its moribund refineries through a transparent, competitive, time-bound process that gives credible private investors majority ownership and operational control. National President Bayo Olarewaju-Alo said more than two decades of rehabilitation efforts at the Port Harcourt, Warri and Kaduna refineries had failed to deliver reliable, competitive production. The society proposed completing the process within 22 months and called for binding investment and production milestones, environmental safeguards, workforce protection, transparent allocation of legacy liabilities and penalties for non-performance. It said the government could retain a minority, non-controlling stake.