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How Governor Yari Destroyed BSM Multi-Billion Refinery/Petrochemical Industry

By   /  December 4, 2014  /  No Comments

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Precisely on August 29, 2010 a multi billion Naira foreign investments owned by BSM International Petroleum Refinery and Petrochemicals Limited was commissioned by the then Governor of Zamfara, Mahmuda Aliyu Shinkafi.
However,  four years after the commissioning of that gigantic project is today laying fallow; it is imperative to note that these monumental projects would have according to experts following the prospected found oil deposits in Sokoto as well as Zamfara and Kebbi states in tandem with Niger republic findings will make the refinery to have  potential to bring down the cost of petrol in Nigeria to N60/liter
Even as it a letter has been written by BSM  to President Jonathan, but up till this moment, no official explanation for the sudden aggressive shutdown of a several years developed 1.5 billion euros government approved foreign investor project
As gathered the BSM-NNPC partner refinery project which began  in 2010, was a sure thing to provide thousands of jobs. The project was well under way and had gulped over a billion euros in foreign investment. This investment was done By BSM without Government’s patronage.
According to the feasibility studies of BSM, there are confirmed proven reserves of crude oil deposits in Zamfara, Sokoto and Kebbi States, this was the link that gave Republic of Niger a Refinery.
However, according to BSM report, there has been the implication of  the president Goodluck Jonathan, minister of petroleum resources, Diezani Alison-Madueke, Zamfara state governor Abdul’Aziz Abubakar Yari and others of trying to cover up the malicious destruction of multi billion euro investments at BSM petroleum refinery heliport complex Gusau, Zamfara state, which created jobs, employment and training opportunities for thousands of Nigerians under the governor Mahmuda Aliyu Shinkafi led administration, a governor with a clean record and projects and aspirations for a true development of his state and Nigeria at large.
As gathered the BSM refinery project promised to make fuel available to Nigerians as low as N60/liter which.
Meawnhile, while the project is shut down, there has been serious allegations of several kidnap and assassination attempts  on the life of Otunba Lateef Lai Ogungbadero, the chairman Board of directors of BSM to destroy evidence and the quest for justice.
The total investment in the project was worth  one billion five hundred million Euros were supported by Advance Payment Guarantee Bond issued by a Foreign Consortium in favour of BSM Int’nal Petroleum Refinery & Petrochemicals Limited and NNPC. This was approved and duly ratified by Zamfara State Executive Council.
According to the report, BSM holds all the requisite MOUs to the effect. The Ambassador of the Federal Republic of Nigeria to Romania also sent confirmation of the participating companies to the Federal Government of Nigeria; NIPC, NNPC, IGP, SSS: EFCC, NCAA: FAAN: NSCDC: Ministers of Petroleum Resources: Aviation: Police Affairs: Niger Delta.
In their report BSM claims it was hounded for refusing to comply with corrupt advances of the nation’s Leadership. BSM reports shows that  there were documentation and pictorial evidence of the submission of 200,000 BPD BSM Petroleum Refinery & Petrochemicals Project to the GMD & Management of the NNPC by Governor Mahmuda Shinkafi and Management of BSM Consortium.
It was gathered that the Zamfara State government under Governor Yero also maliciously destroyed  BSM Petroleum Refinery Heliport Complex next to the NNPC Depot Gusau and BSM Consortium Head Office Complex in Gusau, Zamfara State which has since deprived staff of numerous training opportunities thereby rendering them unemployed.
The report also stated that the Infrastructural Development and Economic Emancipation Initiative of BSM Consortium was intercepted and brought to an abrupt end by some selfish and unscrupulous miscreants who by way of ethnic, religious and political divides launched various attacks on the Chairman Board of Directors OTUNBA LATEEF LAI OGUNGBADERO ranging from failed kidnap to assassination attempts. These dastardly acts were ordered by the incumbent Executive Governor, in collaboration with Leaders who claim dominance to the region of the country, deciding who invests in it regardless of Due Process, good Practice of international standard, Morals and the provisions of the Federal Republic of Nigeria Constitution.
The BSM consortium which is aggressively seeking to recuperate its lost investment funds is filing with the Jonathan government to fulfill the Advance payment Guarantee Bond. The BSM debacle has so far been a serious embarrassment to the Jonathan administration and is effectively discouraging foreign investors who depend on stability and reliability.
The BSM consortium had issued a strong worded communique on 11th Day Of June, 2014 titled; Communique On The Resolution Of The Board Of Directors And Management Of Bsm Int’nal Petroleum Refinery & Petrochemicals Limited On The Demolition Of Bsm Petroleum Refinery Heliport Complex, Gusau Zamfara State, Nigeria.
The communiqué stated that; “The undersigned on behalf of BSM Consortium hereby use this medium to channel our grievances to the World Leaders, International Business Community and Friends of Nigeria, to as a matter of urgency unite against this impious, self serving and politically motivated act of INJUSTICE.
Consequently, we advise the Federal Government of Nigeria to save Nigeria the embarrassment associated with a global outcry from an International disposition to which the forthcoming World Press Conference Tagged “UNVEILING THE POTENTIAL CHALLENGES AND RISKS OF INVESTING IN NIGERIA – THE BSM EXPERIENCE IN ZAMFARA STATE” seeks to depict.”
“We enjoin all our Sympathizers in Nigeria and Zamfara State in particular to remain resolute in condemning the gross act of political impunity and economic sabotage of our leaders evident in the malicious destruction of BSM Petroleum Refinery Heliport Complex next to the NNPC Depot Gusau and BSM Consortium Head Office Complex in Gusau, Zamfara State which has since deprived staff of numerous training opportunities thereby rendering them unemployed. Whilst thanking all our Partners across the globe for their immense support, patience and understanding at these difficult times,” BSM said
BSM in its press conference said it is doing so to admonish the minds of International corporate organizations and potential investors in Nigeria to be guided without prejudice by the dilemma of BSM INT’NAL PETROLEUM REFINERY & PETROCHEMICALS LIMITED – an indigenous company with affiliations to Global Multinationals which facilitated economically viable initiatives and Integrated solutions; tackling the deficit issues bedeviling the Northern region in 2009 under the purposeful leadership of the then Executive Governor of Zamfara State His Excellency ALHAJI MAHMUDA ALIYU SHINKAFI (DALLATUN ZAMFARA) who on behalf of Zamfara State Government of Nigeria executed a Memorandum of Understanding/Agreement. This was duly ratified by the Zamfara State House of Assembly and Zamfara State Executive Council. Consequently, this project was launched in a Ground Breaking Ceremony attended by His Excellency himself.
“The Infrastructural Development and Economic Emancipation Initiative of BSM Consortium was intercepted and brought to an abrupt end by some selfish and unscrupulous miscreants who by way of ethnic, religious and political divides launched various attacks on the Chairman Board of Directors OTUNBA LATEEF LAI OGUNGBADERO ranging from failed kidnap to assassination attempts. These dastardly acts were ordered by the incumbent Executive Governor, in collaboration with Leaders who claim dominance to the region of the country, deciding who invests in it regardless of Due Process, good Practice of international standard, Morals and the provisions of the Federal Republic of Nigeria Constitution.”

BSM in conclusion said; “we wish to emphasize unequivocally that we are nonpolitical and operate across regions without prejudice to any association or institution. Therefore, the proposed World Press Conference is not intended to jeopardize the concerted efforts of this administration in encouraging Foreign Direct Investments in Nigeria. Rather, it is intended to serve as a caveat to investors by showcasing the inherent danger associated with investments of this nature in a country where the Government lack the concomitant protection for investors.”

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  • Published: 4 years ago on December 4, 2014
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  • Last Modified: December 4, 2014 @ 9:27 am
  • Filed Under: Headlines, Reports

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