The African Democratic Congress (ADC) is elevating critical alarms over the federal authorities’s newest transfer to denationalise Nigeria’s state-owned refineries—services which have reportedly swallowed near $18 billion in public funds over the previous decade underneath the guise of rehabilitation.
In a press release issued by Mallam Bolaji Abdullahi, ADC’s Interim Nationwide Publicity Secretary and spokesperson for the coalition, the get together expressed deep suspicion that the Tinubu administration could also be deceptive Nigerians—particularly after confirming it just lately spent one other $2.8 billion on the identical refineries, solely to now declare them “moribund.”
The assertion mentioned, “The African Democratic Congress (ADC) has famous with deep concern the latest affirmation by the Tinubu administration and the management of the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) that the federal authorities is continuing with the complete privatisation of Nigeria’s state-owned refineries. This improvement, coming simply months after authorities officers claimed that the Port Harcourt and Warri refineries had resumed partial operations, raises elementary questions on transparency and coverage coherence.”
ADC remembers that it wasn’t way back that this similar authorities publicly claimed that work had resumed on the Port Harcourt and Warri refineries. But at the moment, the story has flipped: regardless of billions in taxpayer cash pumped into these services, they’re to be offered off—with no public accounting, no audit, no readability.
“It’s due to this fact curious that the identical authorities, having spent such humongous quantities on the refineries, is now planning to promote them off.”
The get together mentioned it sees this as a troubling sample of waste, mismanagement, and shady backroom offers underneath the pretext of “turnaround upkeep”—a phrase Nigerians have come to affiliate extra with elite enrichment than precise reform.
“ADC is anxious in regards to the perennial waste and underhanded dealings within the identify of turnaround upkeep that by no means turned something round however the private fortunes of these concerned. We consider this should not proceed. We’re nonetheless suspicious of the present strikes being made by the federal government to dump the refineries outright with out giving full concerns to various choices and with out consultations with crucial stakeholders. Promoting off the refineries underneath the prevailing circumstances is certainly conducive for all kinds of legal dealings, whereby nationwide belongings may very well be intentionally devalued and offered to cronies.”
The get together mentioned it’s demand is evident -“no sale ought to go ahead with out a full and impartial audit—monetary, technical, and structural—of all funds and processes tied to those refineries.
“ADC due to this fact requires a full and impartial audit—monetary, technical, and structural—earlier than any sale is contemplated or privatisation is taken into account.”
It mentioned successive governments have spent billions, with nothing to indicate and that the refineries stay useless, gas importation continues, and Nigerians are worse off.
“Successive APC administrations have poured over $18 billion into the so-called rehabilitation of Nigeria’s refineries. The present administration is reported to have spent one other $2.8 billion underneath the identical pretext. But there isn’t a verifiable improve in refining capability, no observable price effectivity, and no gas safety profit accruing to the Nigerian individuals. As an alternative, the identical refineries have remained idle or dysfunctional, whereas the federal government continues to fund the importation of refined petroleum merchandise.”
The ADC recalled the response of billionaire enterprise man, Alhaji Aliko Ɗangote to reawakening of the refineries.
“Even Africa’s foremost industrialist, Alhaji Aliko Dangote, whose non-public refinery now stands as the one viable refining asset within the nation, has publicly acknowledged his doubts that these government-owned refineries can ever work once more. And he’s proper to doubt. The infrastructure is out of date, the operations are hollowed out, and your entire value-chain has turn into a black gap for public funds. So once more, we should ask: what precisely is being offered, and why now?”
The get together argues that if privatisation was at all times the endgame, then the years of public spending weren’t solely futile—they have been fraudulent.
“The reality is that if the intention all alongside was to privatise the refineries, then the years of big public spending is at finest a waste, and at worst a rip-off.”
“Authorities can’t, in good conscience, expend public funds on belongings underneath the guise of rehabilitation, solely to show round and provide them on the market—with out accountability on the investments already made and with none public reckoning. In different climes, these answerable for such transactions would have confronted judgments.”
For the ADC, the subsequent steps should be non-negotiable – a forensic audit relationship again to 2010 and a full, public legislative listening to involving civil society, economists, and anti-corruption our bodies.
“The ADC believes that earlier than any dialog about privatisation can proceed, there should be a complete forensic audit of all funds allotted to refinery rehabilitation from 2010 up to now. There should even be a third-party technical evaluation to find out the true standing and potential of the belongings in query.”
“The audit findings should be offered in full to the general public by a legislative listening to, with civil society, power economists, and anti-corruption businesses current. Till then, any try and promote these refineries should be thought of not simply illegitimate, however legal.”
The problem, the get together burdened, “is greater than economics—it’s about rebuilding belief in governance.
“This isn’t merely about public finance. It’s about public belief. If this authorities actually believes in reform, then it should start with the reality. And if it claims to be accountable, then it should submit itself to scrutiny. What we’re witnessing is just not a coverage resolution. It’s a cover-up. And the ADC won’t stand by whereas nationwide belongings are quietly auctioned to cronies and to masks years of systemic failure.”
