Prof. Itse Sagay (SAN), Chairman of the Presidential Advisory Committee Against Corruption (PACAC), speaks on latest developments in the polity in this interview with TEMIDAYO AKINSUYI. Excerpts: The federal government few weeks ago approved $1.5bn in funding to repair the Port Harcourt refinery, which was closed two years ago. This has continued to generate mixed reactions from Nigerians, as some have argued that it should have been sold in its present state. What is your take on that?
I want to take refuge in my ignorance because I was shocked when I heard the amount to be used in repairing the refinery. $1.5 billion just to repair? Honestly, I was shocked. I thought we could get a brand new, excellent refinery with that money. I also listened to the Minister of State for Petroleum and others who are in support, telling us that the whole refinery will be totally overhauled and what we are going to get after the repair will be as brand as new at the rate of 90 percent. I pray for their sake that it is true. If after that huge sum of money had been spent on revamping it and then production commences and it becomes epileptic, I don’t think they will be able to survive the barrage of attacks that will be landing on them. In fact, it will be more than that because people will call for them to be prosecuted for misleading the public and investing so much amount of money on the refinery.
Why I’m no longer concerned a lot is that we've got a cabinet which holds a weekly Federal Executive Council (FEC) assembly of approximately 50 to 60 human beings. If they're able to convey all the ones human beings, maybe they need to have made some cogent points. That is the way I comfort myself. We will simply wait for the subsequent three to four years whether or not they'll be verified right or no longer. I pray for his or her sakes that they're proved efficaciously that we're going to have a refinery that is modern, although it is an vintage one that is constant. What they are telling us is this is not turnaround protection, however general rebuilding. I’ve also read the opinion of some those who said in preference to repairing the refinery, why can’t they promote it within the present nation after which permit the consumers to restore it themselves? I think that is being too clever due to the fact who will now want to pay $1.5 billion or greater for a refinery that they know turned into scrap before and a person has just tried to restore? I think it's miles higher for him to goal that allows you to produce the 90 percent capacity and produce with it for about 5 years with out question. Otherwise, I don’t suppose he is going to have any peace in this depend. The money is simply too much. $1.5 billion is a huge sum of money. We are not speaking of N300 million which they used for their turn round. $1.5 billion is a big sum. So, I pray for his sake that each one they've promised will come to bypass.
The Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC), Mele Kyari, few days in the past said that the business enterprise can now not undergo the over N120bn monthly subsidy on Premium Motor Spirit (PMS) also called petrol. He also said which could impact at the contemporary fee of gasoline at N162. Will you be greatly surprised if the price of gasoline is expanded?
I will not be amazed however I may be very disillusioned. I think it is ideal to be ignorant. Those of us who're ignorant in economics are not seeing it the equal the NNPC and the experts are seeing it. Let us try to look at the logic of what they're announcing. When the NNPC are becoming almost not anything for oil, if the fee crashes to $10 in line with barrel, then they're prepared to sprint Nigerians the petrol and have been promoting it for little or not anything. In other words, out of that their little or not anything, they now have to look for cash to make us get petrol. But now when they're being nicely-paid for it, whilst crude oil is now at $60 in step with barrel, that is whilst they could find the money for to subsidise because they may be making so much cash. They can take out of that cash and make cheap petrol to be had for the united states of america. But the manner monetary principle has turned it spherical that the less NNPC earns in phrases of crude oil, the extra it need to be able to subsidise we, the users to the quantity of just about paying not anything for it. But while it's miles earning huge sums; whilst it has the money to truely do the subsidy, then it need to additionally boom the fee. It makes no sense. The illogic of it arises from the fact that they say that it's far a theoretical component. We at the moment are earning $60 per barrel. So, if we provide away crude oil for subtle one, it need to be at that price because that is the price it's miles being sold. If we provide it at a lower rate, we are dropping money on the international stage. I think that is stupid economics. In my view, the extra you earn, the lower the fee of petrol because you're having extra cash now from the industry, that may allow you convey the price down for the advantage of the people. The less you earn, the extra tough it must be in order to subsidise. That is while the charge have to go up. So, for me, the economics is the other way up economics. They will by no means have a great excuse in my eyes for increasing the fee of petrol whilst they may be doing very well in the international market for crude oil. To me, that common sense is theoretical economics common sense that is absolutely at variance with the truth of what they're incomes and therefore with the interest of the people of this country. So, there's no excuse for growing the rate of petrol and I could be very disenchanted if they try this.
As one of the prominent chiefs in Warri state (Olufusi of Warri) , what is your take at the controversy that has trailed the emergence of the Olu of Warri-select, Prince Tsola Emiko?
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Frankly, I believe Tsola Emiko is the first-class preference for now. I became watching for them to clear up this trouble for him to be declared as the Olu-choose for each person, which include the Ologbotsere and the others who are not in guide of his preference. Certainly, he's the selection of the human beings and he's to be congratulated. My hope is that there can be a non violent resolution so that you can completely verify his emergence as Olu-go with of Warri.
The ranks of Nigeria’s political activists depleted in advance this month with the passage of Comrade Yinka Odumakin. As a person you interacted with all through his lifetime, what's your affect approximately him?
He (Odumakin) was a principled man who changed into definitely brave about his perspectives with out worry of results. One might not agree with him on a number of his views but one advantage that he has supplied is that he has raised issues and enabled the enlightened public to virtually lash on those problems, talk them and try and remedy them.
He is to be well-liked for being a person of ideas and a man of very sturdy views, which themselves unlocked other humans, even people who are in opposition to him and allow troubles to be robustly debated to the benefit of the public, who will now have all the possible views on any issue and then decide who to comply with.
I assume he's to be praised for that. I like people who have perspectives, ideas and who can present them to the public and permit such ideas to be debated and enlighten the general public. In some instances, allow a consensus as a way to flow the country forward.
So, one won't accept as true with him on many stuff. I assume he tended to be too harsh in opposition to the humans he did not like. He could have said things he changed into saying without being so complete of condemnation of humans.
But I suppose he changed into a man of thoughts and he has the ability to arouse public on vital issues. I suppose we have to supply him credit score for that and I pray which could his soul rest in peace.
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