The Senate, represented by its Committee on Finance chaired by Senator Sani Musa (APC Niger East), has strongly recommended the privatization of stagnant oil refineries owned by the Federal Government.
Senator Musa emphasized this call during a press briefing in Abuja on Saturday, where he discussed the future of Nigeria, 63 years after gaining independence.
He pointed out that the government-owned refineries had become a significant financial burden due to continuous turnaround maintenance, and thus, privatization was a viable solution to address these issues effectively.
“For me, my candid advice to the Federal Government on the nation’s apparently moribund oil refineries is for them to be privatised .
“Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are roaming the streets on a daily basis.
“The youth constitute 70 per cent of Nigeria’s population and must be made to be productive, which is doable if the mining and agricultural sectors are repositioned for that.
“The Not-Too-Young-To-Run opportunity given to the youth in the political terrain should be practically extended to the realm of innovation by providing them with a conducive environment and enablement to innovate as it is, in most developed countries,” Musa said.
