Sierra Leone acquires Nigerian refinery

  1. Posted on Tuesday 20 May 2008 - 09:25
    Murtala
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    Murtala Mohamed Kamara, AfricaNews reprter in Freetown, Sierra Leone
    The land and premises of Sierra Leone Petroleum Refining Company Limited in Kissy Dockyard belongs now to the government of Sierra Leone after the parliament voted 51-23 and 6 abstentions, for its acquisition. The company belonged to Nigerian entrepreneurs.
    Africa20Oil.jpg
    Justice Minister Serry Kamal sought and obtained approval from the parliament. He said that the refinery was badly managed and that it was in the interest of the Sierra Leone people to have it as state property.

    He further argued that the government had to acquire the refinery as it is not safe for the country to depend upon other country for the supply of oil.

    Kewords:  sierra_leone nigeria business energy

Reactions

  1. Posted on Friday 23 May 2008 15:24
    esie70
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    1 berichten
    Lid sinds January 2008

    ..interesting development! Is this a case of expropriation or the refinery was bought at a fair value tfrom the Nigerian entrepreneurs?

    this does say a lot about doing business in Africa and the whole issue of continental risk?
  2. Posted on Monday 23 June 2008 14:03
    RKGarg
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    Ramesh Garg
    1 berichten
    Lid sinds June 2008
    Mumbai

    Certainly this is welcome sign . If refinery is not in operation , efforts should be made to operate the refinery . I am the one who was associated with Solima Refinery of Madagascar and refinery was revived at a very low cost. If need arises history can be repeated at Free Town Refinery of Sierra Leone. I will welcome any query on the subject.