The Senate, through its committee on Finance chaired by Senator Sani Musa, has called for the privatisation of the moribund oil refineries owned by the Federal Government.
The call comes as a result of the refineries becoming financial burdens due to extensive turnaround maintenance.
The Senate believed that privatisation will provide a solution to the above issue.
The Red Chamber added that privatisation will also allow increased efficiency and productivity in the oil sector.
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Musa, while addressing newsmen on Saturdays, said:
“For me, my candid advice to the Federal Government on the nation’s apparently moribund oil refineries is for them to be privatised.
“Proceeds from such privatisation should be sunk into the mining sector for jobs creation for the teeming Nigerian youth who are roaming the streets on a daily basis.
“The youth constitute 70 per cent of Nigeria’s population and must be made to be productive which is doable if the mining and Agricultural sectors are repositioned for that.
“The Not too young to run opportunity given to the youth in the political terrain should be practically extended to the realm of innovation by providing them with a conducive environment and enablement to innovate as it is, in most developed countries.”
