Organised Labour has firmly opposed the outright sale of public refineries like the Port Harcourt Refinery to the private sector. After a recent inspection, Labour leaders emphasized their preference for a privatization model that ensures the private sector holds a controlling stake while government, workers, and host communities maintain minority shares.
Labour’s Stance on Refinery Privatization
The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), alongside the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have endorsed the Nigerian Liquefied Natural Gas (NLNG) model as the ideal framework for refinery privatization.
What is the NLNG Model?
The NLNG model is structured with the private sector owning a 51% majority stake, while the federal government retains 49%. This approach has proven effective in fostering collaboration and satisfaction among all stakeholders.
NUPENG President’s Remarks
Prince Williams Akporeha, President of NUPENG, stated that the visit to the Port Harcourt Refinery strengthened their position against outright privatization. He noted that:
- The Port Harcourt Refinery has undergone extensive rehabilitation, with over 90% of equipment replaced, making it comparable to a new facility.
- No private investor or consortium can recover the immense funds invested in its rehabilitation.
- Past privatizations of public assets often resulted in suboptimal outcomes, discouraging any well-meaning Nigerian from supporting similar processes.
The Refinery’s Current Performance
Akporeha confirmed that the Port Harcourt Refinery is operational and functioning efficiently, dispelling any doubts about its performance. The Labour leaders, including NLC, TUC, and PENGASSAN presidents, reiterated their commitment to rejecting any model that undermines taxpayers’ investments or turns public assets into political favors.
Labour’s Position
Organised Labour insists on the NLNG model as the only acceptable framework for refinery privatization. This ensures:
- The private sector holds a controlling stake.
- Government, workers, and host communities share minority stakes.
- National assets are not sold off cheaply or used as political rewards.
Conclusion
Labour’s stance underscores the need for strategic privatization that benefits all stakeholders while preserving national assets. The Port Harcourt Refinery serves as a testament to the importance of a collaborative and balanced approach to economic reforms in Nigeria.
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