The minority group in the House of Representatives has rejected the $1.5billion that was approved for rehabilitation of the Port Harcourt refinery.
The minority group described the figure as outrageous and heavily inflated and demanded an immediate review of the cost.
A statement issued on Tuesday by the Minority Leader of the House, Ndudi Elumelu, said the caucus reached the conclusion after a thorough evaluation of the proposal.
The group argued that the project could be transparently executed at a far lesser amount.
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The opposition lawmakers said a critical cost analysis of the project indicates ‘a huge scam and a ploy by unscrupulous elements to hide under the guise of rehabilitation of the refinery to siphon public funds’,
The caucus noted that while it was in support of any genuine effort to bridge energy deficit in Nigeria, such should not be used as a ploy by corrupt individuals to fleece the nation.
The lawmakers said, “This over bloated $1.5billion cost has again brought to the fore the prevailing unpatriotic proclivity of treasury looting and criminal diversion of public funds through inflated contracts by officials of government for their selfish interests.
“It is completely unexplainable that the sum of $1.5billion, belonging to Nigerians, is to be funnelled towards the rehabilitation of a non-profitable refinery, which has already been slated to be handed over to private hands.
“As lawmakers, we firmly reject this attempt to use the refineries to further defraud our nation.”
