A former Vice President and Presidential candidate of the Peoples Democratic Party (PDP) in the last general election, Alhaji Atiku Abubakar has faulted the Federal Government’s plan to commit the sum of $1.5 billion to refurbish the moribund Port Harcourt Refinery.
Atiku’s reaction is contained in a series of tweets on his Twitter account, @Atiku, saying the decision of government regarding the project raises some form of suspicion, which need further clarification.
This is coming just as the Adamawa born politician expressed some reservations regarding the country’s profile which he described as worrisome.
The former customs boss had argued during the runup to the last general election that the government should as a matter priority privatise the four refineries if the country is to generate maximum utility and efficiency from them.
Commenting further on the decision of government to commit more funds to the moribund facility, he stated that the more is a further pointed to the current administration’s habit of funding inefficiency.
“We cannot as a nation expect to make economic progress if we continue to fund inefficiency, and we are going too deep into the debt trap for unnecessarily overpriced projects.” He said.
While maintaining that the government need to give further clarification on the project, he said, “Given this discrepancy, might we ask if there was a public tender before this cost was announced? Was due diligence performed? Because we are certainly not getting value for money. Not by a long stretch.”
On the current debt overhang, the former vice president wrote, “Our national debt has grown from ₦12 trillion in 2015 to ₦32.9 trillion today. Indeed that is shocking enough to cause us to be more prudent in the way we commit future generations into the bondage of bonds and debt.”