Falana condemned the sale of refinery planning, accusing the misuse of $ 18 billion which was released for improvement

Nigerian Human Rights and Senior Advocate (SAN), Femi Falana, has described the plan to propose a plan for the National Petroleum Company Limited (NNPCL) proposal to sell the country’s refineries as an illegal, unconscious effort, and a hidden effort to hide the misuse of more than $ 18 billion

In a statement issued on Sunday, Falana, who also touched the alliance of Covid-19 who was still alive and so on (Ascab), criticized NNPCL, which stated that he did not have the legal authority to dispose of refineries, which he was declared owned by the federation and not the company.

He warned that such sales would be a violation of the Nigerian constitution and damage the ongoing corruption investigation.

Falana remembers that in 2021, the administration of former Muhammadu Buhari’s President approved $ 2.9 billion for the rehabilitation of the Port Harcourt, Warri and Kaduna refinery.

He accused that most of the funds were diverted, although NNPCL claimed that the rehabilitation project had been completed.

“Most of the money was transferred criminalized,” said Falana, adding that the refinery has since been non-operational. He noted that the Economic and Financial Crime Commission (EFCC) had launched an investigation of alleged abuse.

San expressed disappointment over NNPCL’s decision to assign refineries regardless of adverse audits and security reports. His statement followed the new comments -this new by Aliko Dangote, President of the Dangote Group, who stated that the refinery might never function again, even though billions were spent on them. NNPCL Group CEO, Mr. Bayo Ojulari, also signaled plans to sell assets, quote their old status and failed in the Turnaround effort.

Falana, however, argues that the proposed sales are not only wrong direction but violates the law.

“First, the public refinery is not only owned by NNPCL or even the federal government,” he said. “They are jointly owned by all federations, consisting of the Federal Government, 36 state governments, and 774 local governments, based on section 44 (3) the 1999 constitution (as amended).”

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He also warned that such sales would endanger the ongoing EFCC investigation against the alleged transfer of rehabilitation funds. In addition, he highlighted that the refinery was not registered in the law of public companies (privatization and commercialization), making it not qualify for the requirements for sale unless the law was changed.

Quoting part 16 (2) (c) The constitution, which prohibits the concentration of wealth in the hands of several people, Falana stated that privatizing refineries will contrary to the principles of national economy.

Luminer Law also asked Dangote to assist EFCC in its investigation, especially regarding its public claims that the government spent $ 18 billion in refineries.

“Mr. Dangote must work with EFCC to restore funds,” he said. “If recovered, that number is more than enough to build a completely new refinery.”

Falana rejected the conversation around sales as a disturbance designed to protect foreign contractors who, he said, received funds but failed to carry out rehabilitation work.

“EFCC must issue an ultimatum to this contractor to return $ 2.9 billion or complete the project,” he added.

He also raised a red flag about the acquisition of NNPCL shares in Dangote Refinery. According to him, while the Federal Executive Council approved $ 2.76 billion for 20% of equity shares in the private refinery, this new dangote revealed that NNPCL only has 7.2% equity.

“There has been no explanation from NNPCL regarding the $ 2.76 billion balance,” Falana said, urged EFCC to extend its investigation at the share acquisition agreement.

Falana concluded by asking NNPCL to stop any plans to privatize refineries and vice versa focus on transparency and accountability.

“It’s not too late to restore public confidence in the oil and gas sector,” he said. “But this must begin by upholding the rule of law and ensuring that those who are responsible for looting public funds are brought to court.”