This came as the Infrastructure Concession Regulatory Commission charged the Federal Government and the NNPC to concession the refineries in order to make them functional and profitable. Kragha further stated that negotiations between the NNPC and financiers could not work due to the recent disagreement between the corporation and the investors as regards the commercial terms of the transaction. The government must play a role to break the back of government dominance in the downstream sector and bring in the private sector. “When you bring in the private sector, you will change the incentive structure. Very simple; we should concession the NNPC refineries to the private sector.

Source: Punch January 30, 2019 23:03 UTC