By Augustine Nyuykongi
The rehabilitation of the SONARA Plant that was destroyed in 2019 by a fire has been announced to begin in 2022 by the government.
The information was released by Prime Minister Chief Dr. Joseph Dion Ngute during the presentation of the Government’s 2022 economic, financial, social, and cultural program before the Parliament in Yaoundé.
The funding mechanism for the rehabilitation for the 250 Billion FCFA project estimated by the Ministry of Water and Energy Resources has however not been expantiated by the Prime Minister.
According to multiple reports, the government has introduced a new line into the oil product price structure to support the rehabilitation.
For every liter of fuel sold at all filling stations, 47.88 FCFA is deposited into a special account. This special account is already believed to have accumulated over 10 billion FCFA.
However, the funds accumulated are believed to be the guarantee offered by the state to SONARA to restructure its debts.