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Olofinmoyin Calls For Revocation Of $1.5bn P/Harcourt Refinery TAM Contract

Navy Commodore Kayode Olofinmoyin (rtd), the former Military Administrator of Ogun State has called on the Federal Government to repeal the 1.5bn contract for the Turn Around Maintenance (TMA) of Port-Harcourt Refinery.

He stressed that it was a clever way to defraud the country with the international collaborators.

Olofinmoyin made the call in reaction to contract in relation to Dangote refinery coming up stream before the Turn Around Maintenance (TMA) is even concluded.

“My recommendation as a former Military Administrator of Ogun State is that, this is a bad deal, Federal Government of Nigeria, please repeal this contract. it is a clever way to defraud Nigeria with international collaborators,” he emphasised.

He pointed out that Dangote refinery is the largest and best in terms of latest technology in the world, and queried that how does a refurbished badly run government refinery can compete with the latest, cutting edge technology privately run refinery

‘Dangote refinery is the largest and the best in terms of latest technology in the world. How does a refurbished, badly run government refinery compete with the latest, cutting edge technology privately run refinery. It is a dead deal on arrival.

“This is going to be the biggest financial heist in our recent history. lnterestingly, the Honourable Minister of Petroleum is the President of the Federal Republic of Nigeria, who no doubt must have endorsed the deal,” he added.

The former military administrator said it was shocking and amazing that the minister of petroleum didn’t factor in what he called, the aggressive Dangote onslaught in the business world, when it comes to business competition, which he noted was aimed to run competitors aground for domination to happen.

‘Am surprised the minister of petroleum didn’t factor in the aggressive Dangote onslaught in the business world when it comes to business competition, the aim is to run your competitors aground for domination to happen. This is a capitalist country,” he emphasised.

Olofinmoyin in his recommendation declared that the federal government should spend $1.5bn each on the following: National Security, Education, Industrial development to provide employment, agriculture, infrastructures to create large scale employment and power generation for the nation.

‘I watched the interview of my friend, Tunde Lemo on Channels TV yesterday. It was a masterpiece from a financial egghead. Am particularly impressed with his discussion on the issue of the $1.5bn PH refinery turn around maintenance (TMA) in relation to Dangote refinery coming up stream before the TMA is even concluded,” he stated.

 

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