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How Yar’Adua reversed sale of PHC refinery to Dangote over Obasanjo’s shares in consortium, says Falana-led ASCAB

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A group chaired by human rights lawyer Femi Falana has disclosed that the late President Umaru Yar’Adua, annulled the disputed sale of the Port Harcourt Refinery to a consortium led by Dangote Oil upon discovering that the deal was not in the best interest of the nation.

In a statement released on Friday, the Alliance on Surviving Covid-19 and Beyond (ASCAB) highlighted that former President Olusegun Obasanjo had sold a 51 per cent stake in the Port Harcourt Refinery to Bluestar Oil for $561 million.

According to the ASCAB Chair, Falana, Bluestar Oil was a consortium made up of Dangote Oil, Zenon Oil, and Transcorp. On May 28, 2007, in a similar transaction, 51% of Kaduna Refinery was sold to Bluestar Oil for $160 million.

“Bluestar Oil was a consortium of three domestic companies, including Dangote Oil, Zenon Oil, and Transcorp. Prior to the deal, President Obasanjo had acquired significant shares in Transcorp through ‘blind trust’.

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“Many interest groups in the country raised concerns about the legal validity and moral propriety of the sales, as they were concluded in the final days of the Obasanjo Administration,” Falana alleged, highlighting potential conflicts of interest.

The senior lawyer emphasized that under the Privatisation and Commercialisation Act, the Vice President serves as the chairman of the National Council on Privatisation (NCP), which oversees the sale of public enterprises.

Sidelined then-Vice President Atiku Abubakar and directly managed the privatisation process for several key national assets.

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.

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A group chaired by human rights lawyer Femi Falana (SAN) has disclosed that the late President Umaru Musa Yar’Adua annulled the disputed sale of the Port Harcourt Refinery to a consortium led by Dangote Oil upon discovering that the deal was not in the best interest of the nation.

In a statement released on Friday, the Alliance on Surviving Covid-19 and Beyond (ASCAB) highlighted that former President Olusegun Obasanjo had sold a 51% stake in the Port Harcourt Refinery to Bluestar Oil for $561 million.

According to the ASCAB Chair, Falana, Bluestar Oil was a consortium made up of Dangote Oil, Zenon Oil, and Transcorp. On May 28, 2007, in a similar transaction, 51% of Kaduna Refinery was sold to Bluestar Oil for $160 million.

“Bluestar Oil was a consortium of three domestic companies, including Dangote Oil, Zenon Oil, and Transcorp. Prior to the deal, President Obasanjo had acquired significant shares in Transcorp through ‘blind trust’.

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Many interest groups in the country raised concerns about the legal validity and moral propriety of the sales, as they were concluded in the final days of the Obasanjo Administration,” Falana alleged, highlighting potential conflicts of interest.

The senior lawyer emphasized that under the Privatisation and Commercialisation Act, the Vice President serves as the chairman of the National Council on Privatisation (NCP), which oversees the sale of public enterprises.

sidelined then-Vice President Atiku Abubakar and directly managed the privatisation process for several key

He explained that in another transaction that took place on May 28, 2007, President Obasanjo sold 51% shares in Kaduna Refinery to Bluestar Oil for $160 million.

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He noted that the two powerful trade unions in the oil industry —the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) kicked against the privatisation of the two refineries on grounds of conflict of interest and lack of due process.

“They also alleged that the nation had been shortchanged as the shares acquired in the Port Harcourt refinery for $516 million were worth US$5 billion.

“Convinced that the deals were not in the national interest, both unions proceeded on a 4-day strike that almost paralysed the Nigerian economy in June 2007. The strike was called off based on the assurance of the federal government to the effect that the deals would be fully investigated,” Falana stated.

He said upon the conclusion of the investigation by the federal government, the purported privatisation of the Port Harcourt and Kaduna refineries was cancelled by then President Umaru Yar’adua.

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“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.

“The Alliance on Surviving Covid and Beyond (ASCAB) hereby calls on NUPENG and PENGASSAN to intensify their historical struggle aimed at as a counterpoise to the renewed campaign for the privatisation of the nation’s refineries.

“Those who are awaiting the privatisation of the refineries in a manner at variance with the national interest should be advised to set up their own refineries like the Dangote Group,” the statement added.

Former President Obasanjo had revealed how the Nigerian National Petroleum Corporation (now Nigerian National Petroleum Company Limited) turned down a $750 million offer from Aliko Dangote to manage the Port Harcourt, Warri and Kaduna refineries in 2007, during his administration.

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Speaking during an exclusive interview with Channels Television on Thursday, Obasanjo revealed that although the NNPC was aware of its inability to effectively manage the national refineries, it still rejected Dangote’s proposal.

Obasanjo said that Dangote made his offer after Shell turned down his (Obasanjo) offer to manage the three refineries because of corruption, poor maintenance, low production output and two other reasons.

The former President said, “It was after that, Aliko got a team together and they paid $750 million to take part in PPP (Public–Private Partnership) in running the refineries.

“My successor (Yar’Adua) refunded their money and I went to my successor and told him what transpired. He said NNPC said they wanted the refineries and they can run it. I said but you know they cannot run it.”

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May Day: Senator Manu celebrates with Nigerian workers

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The Senator representing Taraba Central Senatorial District, Manu Haruna celebrates May Day with Nigerian workers in Taraba and across Nigeria.

Senator Manu in a congratulatory letter to all Nigerian workers said:

“Your labour towards building a virile nation shall never be in vain as you celebrate May Day today in Nigeria and across the globe.

The former Taraba State Deputy Governor acknowledged the invaluable contributions of workers across various sectors and emphasized their crucial role in driving the nation’s development and progress.

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He encouraged continued solidarity among workers while advocating for better working conditions, fair wages, and enhanced opportunities.

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Ibas Pledges Commitment to Workers’ Welfare

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The Administrator of Rivers State, Retired Vice Admiral Ibok-Ete Ibas, has reaffirmed his commitment to improving the welfare of workers across the state.

This assurance was given during a meeting with the leadership of organised labour unions held at the Government House in Port Harcourt.

According to a statement issued by the Senior Special Adviser on Media to the Administrator, Hector Igbikiowubo, the meeting served as a platform for open and constructive dialogue on critical labour matters.

The statement outlined key areas of intervention currently being addressed by the government.

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These, he said, included the timely payment of salaries and pensions, as well as the resolution of salary arrears, with approval already granted for the payment of newly employed workers at the Rivers State University Teaching Hospital and the judiciary.

Similarly, he said medical workers in the local government areas would receive their proper wages.

He said the minimum wage was being implemented for all local government employees across the state.

The administrator also noted that his administration was currently reviewing challenges related to the contributory pension scheme, ahead of the July 2025 implementation deadline.

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Ibas disclosed that plans were underway to expand the fleet of intervention buses reintroduced to ease the transportation burden of workers.

On capacity building, the administrator announced that specialised leadership training for senior civil servants would begin within the next two weeks.

He also revealed that the government was actively considering the implementation of the N32,000 consequential pension adjustment, along with measures to clear outstanding gratuities owed to retirees.

While commending workers for their dedication to service, he called for continued collaboration with labour unions to ensure lasting industrial harmony in the state.

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According to the statement, the State Chairman of the Nigeria Labour Congress (NLC), Alex Agwanwor, expressed appreciation to the administrator for the steps already taken to promote workers’ welfare.

Agwanwor also lauded the government’s openness to dialogue and pledged the sustained support and cooperation of labour unions in achieving shared goals.

Meanwhile the NLC has directed its members in the state to observe the International Workers’ Day as a peaceful rally, which is expected to be held within the premises of the union, involving all affiliate unions, and would focus on advocating for the restoration of democratic governance in the state.

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Just In: Explosion rocks Borno military barracks

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Panic has gripped residents of Maiduguri, the Borno State capital, as multiple explosions rocked the Giwa Barracks in the early hours of Thursday.

The incident reportedly began at about 12:05 am, with residents in the vicinity forced out of their homes by the sounds of loud blasts and the sight of red flares lighting up the sky around the barracks.

While the cause of the fire is yet to be ascertained, residents living in the area confirmed that the blast came from the armoury area

One of the residents, Rakiya Garba, confirmed the presence of men of the fire service, with sirens sounding all around the area

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“We are safe, but we are in fear. The explosion is coming from inside the barracks. It is not an attack because we are not hearing gunshots.

“However, it has been a sporadic explosion,” she confirmed

Meanwhile, the Deputy Governor of Borno state, Dr Umar Kadafur, has called for patience, saying that the explosion is a result of a fire incident that erupted at an Armoury of Giwa Barracks

He dismissed reports speculating that it was a Boko Haram attack.

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He encouraged everyone to remain indoors, as security operatives are on top of the situation.

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