The former Secretary to the Government of the Federation (SGF) and Minister of Finance, Olu Falae has appealed to the federal government to repair the Nigerian refineries and sell the facilities off to those who can run them.

Falae made this in an interview on Channels Television’s Politics Today on Thursday.He said, “The government should repair and sell refineries to those who can run it.

Crude oil is our national endowment and should be sold at the cost of production plus little margin, he adds.

“My belief is that Nigeria’s problem with fuel and its price will be substantially resolved when we are able to repair and recommission our refineries and sell them to those who can run them.”

According to Falae, the federal government is incapable of running the refineries. Meanwhile, the former minister said the president does not have to be the minister of petroleum.

Falae also expressed concern over the challenges facing the manufacturing industry in the country, saying the manufacturing sector is almost dead in Nigeria.

His words: “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.

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