Nigeria, April 8 -- The Director General, Voice of Nigeria (VON), Osita Okechukwu, has hailed the federal government's decision to rehabilitate the Port Harcourt refinery.

He also kicked against the idea of privatising the refinery. This, he said, is because state-owned enterprises that have been privatised do not advance Nigeria's economic development as canvassed by World Bank and IMF in 1986.

His comment comes barely 24 hours after the Nigerian National Petroleum Corporation (NNPC) signed a contract with Italy's Maire Tecnimont for the rehabilitation of the refinery.

The $1.5 billion contract, which was signed by the Managing Director of the Port Harcourt Refinery, Ahmed Dikko, and the Vice President of Tecnimont, Sub-Saharan Africa...