Nigeria "wastes" over N10 billion yearly to transport petroleum products from the South to the Northern part of the country, former Chief Executive Officer of the Port Harcourt Refining Company (PHRC), Alexander Ogedegbe, has declared.

The products bridging, the petroleum expert, who also served as CEO of the Kanuda Refining and Petrochemical Limited noted, was unnecessary "if the four refineries in the country are working up to their 445, 000 barrels per day refining capacity."

Ogedegbe, an active participant in all stages of the execution of the three refinery projects in the country, made this declaration in Lagos maintaining that the excessive political interference in appointments, recruitments and promotions of the refineries' staff and award of contracts by the Federal Government constitutes major hindrance to the smooth running of refineries in Nigeria.

These undue influences, he pointed out while fielding questions recently, "constitute a heavy burden and distraction to the management but they would not exist or become so serious if the refineries were privately owned."

Part of the problems facing Nigerian refineries, the petroleum pundit continued, "is excessive political interference by the government."

This interference, he noted, "can take any form from staff matters (appointments, recruitments and promotion), procurement issues, award of contracts among others. These undue influences, which constitute a heavy burden and distraction to the management would not exist or become so serious, if the refineries were privately owned."

He recommended that the Port Harcourt and Warri refineries should be slated for "simultaneous sale," which he argued "would restore the 445, 000 barrels per day total refining capacity of Nigeria.

Charging the government to be transparent in its on-going privatisation of refineries, the President of Oil and Gas Design Engineers of Nigeria (OGDEN) added that the refinery capacity of Port Harcourt Refinery could be restored within 12 to 18 months after privatization.

"I recommend that at least the Port Harcourt and Warri refineries should be slated for simultaneous sale. I was privileged to in the last tendering process as a management consultant to one of the consortiums of bidders in 2005.

"This gave me the opportunity to revisit the facilities again after about 13 years' absence. All the foreign experts and I who toured and inspected the plants for several days were convinced the PHRC could be restored back to full capacity utilization within 12 to 18 months after privatization," he concluded.