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Refineries - Group Hails Revocation of SaleRefineries - Group Hails Revocation of Sale
This Day
Deji Elumoye
27 July 2007
Petroleum Depot Owners and Marketers Association (PEDOMA), a network of companies that control over 80 per cent of distribution chain of petroleum products in the country, has commended the Federal Government, especially Senate Committee, for saving the petroleum sector from collapse, which the hurried sale of the refinery by administration of former President Olusegun Obasanjo would have cased.
A statement by Chinedu Oranuba Esq, PEDOMA General Secretary, said "preponderance of positions of top executives of government agencies and private organisations operating in the petroleum sector, at the public hearing of Senate committee criticising the price-fixing, price discrimination and monopolistic tendencies that were encouraged by the immediate past administration, was a true reflection of the feelings of Nigerian people.
"It also expressed support for the decision arrived on the sale of Kaduna refinery, condemning hurried sale of the huge national investment.
"We commend the senate committee for listening to the wise counsels of credible organisations operating within the petroleum sector to open investigations into the sale and the pricing mechanism for products and the Nigerian National Petroleum Corporation (NNPC), and the Department of Petroleum Resources (DPR), which confirms our position that the sale was done without due consultations.
"It is our considered opinion that strategic public investments such as refineries, which have tremendous impact on the economy and social lives of Nigerians should not be concentrated on the hands of only a few Nigerians. Allowing that to happen under any guise is dangerous, retrogressive and inimical to the overall progress of the generality of Nigerians," it said.
Copyright © 2007 This Day
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