FG to sell Kaduna, Warri refineries and others.

Four refineries, including Kaduna Refining & Petrochemical Company Limited (KRPC)  and Warri Refining & Petrochemical Company Limited  (WRPC), will soon be sold to the private sector following President Goodluck Jonathan’s approval.
Other refineries, whose approval has been granted, are Port Harcourt Refining Company Limited (PHRC) I and Port Harcourt Refining Company Limited (PHRC) II.
The president has also approved the constitution of a steering committee on the privatisation process that involves all relevant stakeholder ministries and agencies.
The steering committee, which is chaired by the Minister of Petroleum Resources has ministers as  members and others drawn from various sectors.
The steering committee’s terms of reference will include, among others, the following: Advise the National Council on Privatisation (NCP) on the best way to privatise the refineries in a manner that would enhance the gains of the privatisation programme of the FGN; review the diagnostic reports and recommendations of the transaction advisors and make recommendations to the NCP; propose modalities and make recommendations to NCP on labour matters to ensure the successful privatisation of the refineries; generally oversee the process and make recommendations to NCP for the successful privatisation of the refineries; and carry out any other ancillary activities relevant to the attainment of the goals of the Federal Government in the reforms and privatisation of the nation’s refineries.