$1.5bn Refinery Revamp Bill Can Build 12 Hospitals – Peterside

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Founder of Stanbic IBTC Bank Plc, Atedo Peterside, has once again queried the Federal Government’s move to renovate the Port Harcourt refinery for $1.5bn.

He pointed out that the money could instead build 12 world-class hospitals at $125m dollars each.

In a Twitter post on Thursday, he advised the government to instead sell the refinery to private sector investors that could rehabilitate it with their own funds.

“The $1.5bn earmarked for PH refinery rehabilitation by NNPC could build 12 world class hospitals costing $125m each – two in each geopolitical zone. We could then allow private sector core investors to purchase the refinery and rehabilitate it with their own funds,” he tweeted.

  • The $1.5bn earmarked for PH Refinery Rehabilitation by #NNPC could build 12 world class hospitals costing $125m each – 2 in each geopolitical zone. We could then allow private sector core investors to purchase the refinery and rehabilitate it with their own funds @officialNESG
  • — Atedo Peterside (@AtedoPeterside) April 1, 2021