A former Secretary to the Government of the Federation and Minister of Finance, Chief Olu Falae, has expressed for the federal government to repair the Naton refineries and sell them off to those who can manage them.
Falae who stated this during an interview on Channels Television’s Politics Today on Thursday, claimed that the government does not have the capability, to manage them.
“The government should repair and sell refineries to those who can run them.
“Crude oil is our national endowment and should be sold at the cost of production plus little margin, he adds.
“I believe that Nigeria’s problem with fuel and its price will be substantially resolved when we can repair and recommission our refineries and sell them to those who can run them.”
The former minister also added that the president does not have to be the minister of petroleum.
Similarly, Falae expressed concern over the challenges facing the manufacturing industry in the country, saying the manufacturing sector is almost dead in Nigeria.
“The manufacturing sector is almost dead in Nigeria… once power is inadequate, manufacturing will suffer.
“Power, he says, is the most important thing affecting manufacturing,” he added,” he said.