PORT HARCOURT REFINERY IS DEAD! US$1.5 BILLION CONTRACT IS A SCAM!

ZION B-BC   NEWSLETTER.  

(Looking at Nigeria's Political System From a Godly Perspective).

A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria {Vol. 10.NO 397. 21st March, 2021.} “…ONLY The Truth, Will Set You Free! (John.8:32).  PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!

PORT HARCOURT REFINERY IS DEAD! US$1.5 BILLION CONTRACT IS A SCAM!

It has become very certain that this administration of President Muhammadu Buhari and his All Progressives Congress [APC], mixed multitude of strange bed fellows are more than determined to keep Nigerians and their unborn children in perpetual slavery through financial indebtedness to other nations!

From all available information and data, it is very likely that in the nearest future, the nation might be “re-colonized” by new foreign Masters who would take over all strategic infrastructures in the power, transport, industrial, extractive and manufacturing sectors of the economy if contractual agreements related to their funding through loans were violated or reneged by the Federal Government of Nigeria!

In spite of Nigeria’s current debt profile of N32.9 trillion naira, unemployment rate of 33.3%, a high two-digit inflation figure of 17%, a resultant effect of a record economic downturn due to two waves of Covid-19 pandemic effects, according to Nigeria Bureau of Statistics, the obnoxious, offending and illegal Wednesday gathering of FEC Contract Donors, under the watch of President Muhammadu Buhari, awarded a whooping USD$1.5 dollars [about N575billion naira] to “rehabilitate” the disparaged, moribund and dead 32-year-old Port Harcourt Refinery Company [PHRC]! According to the Minister of State for Petroleum, Timipre Sylva, a part of the awarded sum would be borrowed from Afreximbank, while the rest would be sourced from NNPC and Internally Generated Revenue (IGR), and whereas Mr. President, the substantive Minister of Petroleum, who authorized the amount was well aware that 24% of the 2021 [N13.5trillion or USD $37.7billion], Budget would be spent on DEBT SERVICING!
He said the contract for the rehabilitation was awarded to an Italian Firm, Tecnimont SPA to execute and complete in three phases of 18, 24 and 44 months respectively.
He claimed that the first phase would achieve 90% production level within 18 months but failed to explain why it should take 68 months of further rehab to achieve the remaining 10%!
IF NIGERIA’S IGR COMES FROM NIGER DELTA, THEN, ALL ANNUAL BUDGETS MUST BE SPENT ON THE REGION! YES? NO?
The TRUTH is that there are no refineries to Rehabilitate or for Turn Around Maintenance (TAM)! All the refineries are DEAD and should be dismantled and crushed to produce RODS, FLAT SHEETS AND METALS as raw materials for the National Housing Scheme which is in dire strait and suffering serious deficit challenges!

AN NNPC AUDIT REPORT STATES THAT NIGERIA HAS SPENT ABOUT USD$25 BILLION IN TURN AROUND MAINTENANCE (TAM), OF REFINERIES IN 25 YEARS!
Last year, the Nigerian National Petroleum Corporation (NNPC), Audit Report revealed that three of the nation’s four refineries recorded N1.64 trillion cumulative losses in their 2014 to 2018 details and that government was determined not to further spend on the facility!
Timipre Sylva in an interview said that although three refineries did not process crude since June 2020, because of REHABILITATION works being carried out on them, a sum of N10.23 billion deficit in expenses was incurred by government because IDLE WORKERS could not be laid off! Below are excerpts from the report:
“There was no associated crude plus freight cost for the three refineries since there was no production but operational expenses which amounted to N10.27billion. This resulted in an operating deficit of N10.23 billion by the refineries” “The combined losses from Port Harcourt and Kaduna Refineries were N208.6 billion naira in 2014; N252.8billion in 2015; N290.6 billion in 2016; N412 billion, in 2017 and N475 billion in 2018!”
The 2020 Report concluded that since the refineries operated at ZERO CAPACITY, NNPC HAD SHUT DOWN THE FACILITIES and would adopt the Build Operate and Transfer (BOT), model to run the refineries!   

QUESTION: From all of the preceding accounts a very glaring SCAM from the seat of power is in the offing! The EFCC MUST as a matter of urgency step in and probe the dubious contract!
THE TAXPAYERS WOULD LIKE TO KNOW HOW TIMIPRE SYLVA COULD HAVE PULLED A WOOL OVER THE PRESIDENT’S EYES TO SECURE THE USD$1.5!
WAS THERE A PUBLIC TENDER? WHO WERE THE OTHER BIDDERS OF THE JUICY CONTRACT?
Was it not time to build NEW REFINERIES TO NIP THIS GLARING CORRUPTION IN THE BUD - even if they had to be MODULAR TYPES – in the SIX GEO-POLITICAL ZONES FOR NOW WHILE THE NATION WAITS PATIENTLY FOR THE DANGOTE REFINERY TO COME ON BOARD IN 2022??

FORMER NIGERIAN MINISTERS STOLE CRUDE OIL!
Below are excerpts of President Buhari’s speech during his visit to the United States in July 2015, which he made to Nigerians In Diaspora Organization (NIDO), members in America and Canada at a parley:
He accused former Nigerian ministers of selling about one million barrels of crude oil per day and of diverting the gains to personal accounts.
He also alleged in the US that “250.000 barrels per day of Nigerian Crude are being stolen and people sell and put the money into individual pockets” adding that the US and other developed countries were assisting Nigeria to trace such accounts.
“We will ask that such accounts to be frozen and prosecute the persons. The amount involved is mind-boggling…we will trace and repatriate such money and use the documents to prosecute them.”
“As Minister of Petroleum, NNPC (i.e. Nigerian National Petroleum Corporation) had only two traceable accounts of payment to the Central Bank of Nigeria (CBN), now everybody is doing anyhow.”
He expressed doubt if fuel subsidy was ever removed; transport, housing and food prices would go out of control and the average worker would suffer untold hardship. Who is subsidizing who? They say “remove subsidy”….they want petrol to cost N500 naira per litre.
“If you are working and subsidy is removed, you can’t control transport and market women, the cost of food, the cost of transport.”
“I will study if there’s need to remove subsidy with my experience and see what I can do.”
He lamented that “corruption in Nigeria has virtually developed into a culture where honest people are abused.”

QUESTIONS: Have the situation changed in the last FIVE years of APC Change Government under the watch of President Buhari, as substantive Petroleum Minister especially with Mr. Timipre Sylva , Swift Silver move?

WHAT MEND DID TO FORCE FEDERAL GOVERNMENT TO SPEND MORE ON NIGER DELTA REGION!
Abduction of expatriates in the employment of foreign oil companies operating in the Niger Delta by militants of Movement for the Emancipation of the Niger Delta [MEND], intensified in 2006, as a ploy to “destroy the capacity” of the Nigerian Government to export oil in addition to economic sabotage, property destruction, theft, guerilla warfare etc, and possess “total control” of the region’s oil wealth!

Their grouse was predicated on illegal exploration/exploitation, environmental degradation/pollution through destruction of all arable/agricultural lands, oil spillage pollution into all rivers, ponds, lakes, streams, creeks, swamps; which devastated the aquaculture habitats without adequate compensation to the masses of the people of the land!  

BUT MENDS was preceded by Movement for the Survival of the Ogoni People and the Ijaw Youth Council, which were open to negotiations and not as violent as MENDS!
Leaders of MENDS - past and present include but not limited to: Henry Okah, who master-minded the bombing at the Eagle Square 2010 Independence Anniversary Commemoration Day, Asari Dokubo, Tompolo, Ateke Tom, Soboma George etc.

PRESIDENTIAL INTERVENTION UNDER UMARU MUSA YAR ‘ARDUA!
The unceasing violent agitations by MENDS throughout ex-president Aremu Obasanjo’s tenure caught the attention of his successor, late President Yar ‘Ardua, who introduced AMNESTY to the militants who surrendered most of their weapons in exchange for MONEY/REHABILITATION which has been forced down the throat of the BUHARI ADMINISTRATION!

NIGER DELTA IS THE GOOSE THAT LAYS THE GOLDEN EGG!
It is on record that since 1975, the Niger Delta Region of Nigeria has accounted for more than 75% of Nigeria’s export earnings in crude oil alone but when combined with natural gas extractions the figure rose to about 97% of the nation’s foreign exchange revenue when flaring reduced from 99-11% in 2010! And for this singular natural endowment, the region was constitutionally allotted 13 % of the revenue oil-producing states retain from taxes on oil and other natural resources according to the derivation formula.
BUT THEN, ARE MINES AND MINERALS, INCLUDING OIL FIELDS, OIL MINING, GEOLOGICAL SURVEYS AND NATURAL GAS NOT THE EXCLUSIVE RESERVES OF THE FEDERAL GOVERNMENT ACCORDING TO THE 1990 CONSTITUTION? 
“Brethren should dwell together in UNITY! (Psalm. 133: 1- 3).

Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to:  facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,

If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament of your Blood, shed on the Cross at Calvary;
I renounce every sin in my life and accept you as my Lord and Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations. 

I am, yours sincerely, Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08080243066. g-mail-dvdolufon@gmail.com.