President Goodluck Jonathan has approved the commencement of the privatization of the nation’s four refineries by the Bureau of Public Enterprises (BPE).
Besides, the President has also approved the constitution of a steering committee on the privatization process that involves all relevant stakeholder, ministries and agencies.
The Head, Public Communications at BPE, Chigbo Anichebe, disclosed this in a statement on Friday.
According to BPE, the decision is in furtherance of the economic reform programme of the present administration.
The statement said, “This is in keeping with the Transformation Agenda, which seeks to catalyze and provide an enabling environment for the private sector to be the drivers of economic growth in the country.”
The four refineries are – Port Harcourt Refining Company Limited (PHRC) I, Port Harcourt Refining Company Limited (PHRC) II, Kaduna Refining & Petrochemical Company Limited (KRPC) and Warri Refining & Petrochemical Company Limited (WRPC).