Some workers at the Tema Oil Refinery (TOR) have kicked against the government’s decision to lease the refinery to a group called Torentco Asset Management.
While the workers are not against the entire agreement, they are concerned about the behaviour of some of the refinery’s union leaders.
“No one is against the TOR takeover, however, what we are against is our union leaders who are virtually using their mandate for parochial interests,” a concerned worker told Umaru Sanda Amadu on Eyewitness News on Citi FM.
“Per what I have read with regard to this so-called lease agreement, these guys [Torentco Asset Management] are only interested in running the CDU [Crude Oil Distillation Unit] and how does one run only the CDU and claim you will make TOR profitable?” the worker who spoke on condition of anonymity added.
Although the Senior Staff Union of TOR initially supported the government’s decision, the concerned staff members have raised issues regarding the alleged secrecy surrounding the negotiation of the agreement between a few senior staff members and the Torentco Asset Management team.
They emphasized the need for more details about the agreement and suggested that all stakeholders should come together to find a solution to make the refinery profitable.
“The last time we had a meeting, we were told that the agreement had to go through SIGA and PPA and nobody has given us any more details about what this agreement is about and so why don’t we all sit to find a solution to make the refinery profitable?”
Under the terms of the lease, Torentco Asset Management Group will pay $22 million to lease the refinery for six years.
The group is expected to refine up to 8 million barrels annually and will be required to pay an annual rent of $1 million, along with an additional monthly rent of $1.067 million.
