Mr. Atedo Peterside, the founder of Stanbic IBTC Bank Plc, in a twitter post has urged the Federal Government to utilize the $1.5billion approved for the rehabilitation of the Port Harcourt Refinery to build twelve (12nos) class hospitals at $125m dollars each.
He explained that the $1.5billion earmarked for Port Harcourt refinery rehabilitation could build twelve world class hospitals costing $125m each, with two of such hospitals sited in each geopolitical zone. We could then allow private sector core investors to purchase the refinery and rehabilitate it with their own funds.
Mr. Peterside decried the current state of our country’s healthcare facilities and criticised the government for putting the refinery revamp project ahead of the country’s poor healthcare.
He noted that the country’s healthcare situation was an embarrassing one as even the most senior officials in Abuja had to run to Lagos or go abroad to treat some healthcare challenges.
He queried why Nigeria, a country that has no healthcare, is going to make a massive investment in fossil fuels with borrowed funds, at a time when people are moving to compressed natural gas or thinking about electric cars.
He noted that Fossil fuels are going out of fashion, so if Nigeria already had Dangote refinery, its priority will be things like healthcare, while NNPC’s priority will be things like compressed natural gas for cars.
He advised government to instead sell the refinery to private sector investors that could rehabilitate it with their own funds, citing successful core investor sales like Eleme Petrochemicals sold to Indorama and Nafcon sold to Notore.