{"id":14793,"date":"2017-06-29T12:44:26","date_gmt":"2017-06-29T11:44:26","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=14793"},"modified":"2017-06-29T12:44:26","modified_gmt":"2017-06-29T11:44:26","slug":"fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/","title":{"rendered":"FG denies sale, concession of refineries, says it only approved upgrade"},"content":{"rendered":"<p>The federal government said on Wednesday that it has no plans to concession or sell the refineries in the country.<\/p>\n<p>President Muhammadu Buhari said this while declaring open the 5th triennial national delegates\u2019 conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday in Abuja.<\/p>\n<p>Buhari, who was represented by Ibe Kachikwu, the minister of state for petroleum resources, said that it was imperative to make the clarification.<\/p>\n<p>He said that there has been no attempt and there is no approval to concession refineries or sell refineries.<\/p>\n<p>\u201cI keep hearing discussions all over the place, especially from people who should know better. What we have approval for is to bring in a financing mechanism that will enable us to finance and develop and upgrade the refineries as they are,\u201d he said.<\/p>\n<p>\u201cThe reality is that once private sector players begin to build their own refineries, whatever we are afraid of will disappear.<\/p>\n<p>\u201cAnd unless we begin to move very rapidly and quickly to position these refineries in such a way that they can compete, we will lose the refineries completely together with the job scale that exist there right now.<\/p>\n<p>\u201cMy drive is to see that those investments goes through a transparent process and the announcement that you hear about selection has not happened.\u201d<\/p>\n<p>The president, however, said there was need to bring in fund and best practices that would elevate the institutions to the level where they should work for the country as the nation was losing money.<\/p>\n<p>Buhari decried the drop in the oil price, saying that the prices have tumbled and have continued to struggle in spite of all the works done in Organisation of the Petroleum Exporting Countries(OPEC) to stabilise price.<\/p>\n<p>He also noted that that investments are declining at an alarming rate and there are new entrants into the industry.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>According to him, only those who are able to look at their technology and new ways of doing business are going to survive the oil industry of tomorrow.<\/p>\n<p>\u201cAs it concerns Nigeria, we must work inclusively hard to deal with some of the difficulties that we will continue to see in our production platforms.<\/p>\n<p>\u201cWhether it is the militants which is a key component or the slow speed of approvals or whether the fact that our policies are not even as fast as they should to catch up with changing times.<\/p>\n<p>\u201cWe have to influence policies and we have got to work extremely hard to help drive the change that is imperative is the sector to survive. Infrastructural deficit is a key component.<\/p>\n<p>\u201cWe lack infrastructure in the sector, whether it is downstream or upstream or oil and gas. The absence of infrastructure has made it impossible to have a holistic private sector participation.<\/p>\n<p>\u201cWe have got to find policies that will encourage private sector participants to play a key role. coupled with that is the fact that countries are moving away from oil,\u201d he said.<\/p>\n<p>The president called on the union to see other opportunities in terms of job creation and employment in the oil sector.<\/p>\n<p>He also called on them to see gas as the future new horizon of opportunity for the country and urged them to take advantage of it.<\/p>\n<p>&nbsp;<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The federal government said on Wednesday that it has no plans to concession or sell the refineries in the country. President Muhammadu Buhari said this while declaring open the 5th triennial national delegates\u2019 conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday in Abuja. Buhari, who was represented by &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":13486,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[2111],"coauthors":[2392,2393],"class_list":["post-14793","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-concession-of-refineries"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FG denies sale, concession of refineries, says it only approved upgrade - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG denies sale, concession of refineries, says it only approved upgrade - National Wire\" \/>\n<meta property=\"og:description\" content=\"The federal government said on Wednesday that it has no plans to concession or sell the refineries in the country. President Muhammadu Buhari said this while declaring open the 5th triennial national delegates\u2019 conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday in Abuja. Buhari, who was represented by &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-29T11:44:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Ibe-Emmanuel-Kachikwu-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Ibe-Emmanuel-Kachikwu-2.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Ibe-Emmanuel-Kachikwu-2.jpg\",\"width\":700,\"height\":400},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/\",\"name\":\"FG denies sale, concession of refineries, says it only approved upgrade - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/#primaryimage\"},\"datePublished\":\"2017-06-29T11:44:26+00:00\",\"dateModified\":\"2017-06-29T11:44:26+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FG denies sale, concession of refineries, says it only approved upgrade\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FG denies sale, concession of refineries, says it only approved upgrade - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/fg-denies-sale-concession-of-refineries-says-it-only-approved-upgrade\/","og_locale":"en_US","og_type":"article","og_title":"FG denies sale, concession of refineries, says it only approved upgrade - National Wire","og_description":"The federal government said on Wednesday that it has no plans to concession or sell the refineries in the country. 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