By Abdullahi Mukhtar Algasgaini
Nigeria’s opposition African Democratic Congress (ADC) has demanded a comprehensive audit of the nation’s state-owned refineries, alleging the “reckless mismanagement” of over $20.8 billion spent on their rehabilitation without results.
The call comes amidst government signals suggesting plans to privatise the facilities.The party, in a statement by its Interim National Publicity Secretary, Bolaji Abdullahi, labelled the proposed sale as “premature, suspicious and potentially criminal.”
This stance follows recent announcements by the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) indicating a move towards full privatisation, coinciding with claims that some refineries have resumed partial operations.
“The ADC is deeply troubled that after spending over $18 billion across successive All Progressives Congress (APC) administrations, and an additional $2.8 billion under the present government, there is still no tangible improvement in refining capacity,” Abdullahi stated.
“Now, the same government wants to quietly sell off these assets. Nigerians deserve to know: what exactly is being sold – scrap or sovereign assets?”
The party questioned the transparency of President Bola Tinubu’s administration, warning the current approach could lead to the undervaluation and sale of critical national assets to “cronies or even to themselves under the guise of reforms.”
Furthermore, the ADC accused both past and present governments of exploiting ‘Turnaround Maintenance (TAM)’ programmes. It described the refineries as “a black hole for public funds,” alleging TAM has served as a cover for corruption and personal enrichment rather than genuine rehabilitation.
The ADC insists a full, independent audit must be conducted and its findings made public before any consideration of selling the refineries.
This demand underscores deepening political tensions over the management of Nigeria’s vital oil assets and the significant public funds invested in them.