Falana also commended the role of NUPENG and PENGASSAN in advocating for national interest, calling on them to remain vigilant
By Kehinde Okeowo
Human rights lawyer, Femi Falana has said that an illegal step taken by former President Olusegun Obasanjo led to the decision of his successor, Umaru Yar’Adua to cancel sales of Port Harcourt refinery to a consortium led by Dangote.
The senior lawyer made this known in a statement he made available to journalists recently.
According to him, the reversal was a pivotal step to address the legal and ethical breaches surrounding the transaction and to protect Nigeria’s national interest.
He further explained that under the Privatisation and Commercialisation Act, the Vice President is the chairman of the National Council on Privatisation (NCP), the body responsible for overseeing the privatisation of public enterprises.
Falana, however, alleged that Obasanjo bypassed this legal requirement by sidelining then-Vice President Atiku Abubakar and directly managing the privatisation of several state-owned enterprises
Falana said, “On May 17, 2007, President Obasanjo sold a 51 per cent stake in the Port Harcourt refinery to Bluestar Oil for US$561 million. In another transaction that took place on May 28, 2007, President Obasanjo sold 51 per cent shares in Kaduna Refinery to Bluestar Oil for $160 million.”
ALSO READ: Obasanjo turns down NNPC plants tour invite, blasts its “disrespect”
The activist went on to stress that the deals drew sharp criticism from key stakeholders, including the National Union of Petroleum and Natural Gas Workers, (NUPENG), and the Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN).
He added that the unions raised concerns over due process and alleged that the country had been shortchanged.
He further explained that they also alleged that the nation had been shortchanged as the shares acquired in the Port Harcourt refinery for $516 million were worth $5 billion.
“It is on record that the cancellation of the privatisation was not challenged in any court as it was carried out contrary to the letter and spirit of the Privatisation and Commercialisation Act,” Falana stated.
He also commended the role of NUPENG and PENGASSAN in advocating for national interest and called on them to remain vigilant amid renewed calls for the privatisation of Nigeria’s refineries.
Falana’s statement emphasised the ongoing debate over privatisation in Nigeria, with advocates stressing the need for transparency and due process in managing the country’s public assets.
