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Sell TOR to A Private Firm – Energy Strategist Tells Government
An energy strategist, Dr. Yusuf Suleman, has welcomed the privatisation of the Tema Oil Refinery, as a means of dealing with the perennial challenges that affect the company.
Speaking in a discussion on fuel prices on The Probe on Sunday, he expressed concern about the inability of the company to live up to expectation, despite its prospects.
Responding to a question from Benjamin Akakpo, on whether TOR should be privatised to deal with the company’s woes, Dr. Suleman said, “I’ve always advocated for that. I told you that of one the conduits for poor performance in the refinery is internal inefficiency. And now we need funds in the refinery, undoubtedly.
So yes, I’ll always, 100% call for privatising the refinery. If not 100%, just give portions to private hands to manage. And what it will do is that, it will inject some bit of efficiency. And then the required capital that we need to inject to bring the refinery back to vibrancy, that will be catered for.
So yes, privatisation is an option that the government can pick. And I think the high time we did that, the better.”