Lagos, 17 July 2025 – The African Democratic Congress (ADC) has called for a comprehensive independent audit of Nigeria’s state-owned refineries before any privatisation proceeds, accusing the federal government of potential deception and waste of public funds.
In a strongly worded press statement released today by Mallam Bolaji Abdullahi, the party’s Interim National Publicity Secretary, the ADC questioned the Tinubu administration’s motives after reports emerged that billions of dollars have been spent on rehabilitating the facilities, only for them to be deemed moribund and slated for sale.
“What exactly are you selling—scrap or sovereign assets?” the statement asked, highlighting concerns over transparency and the possibility of national assets being devalued and sold to cronies.
The ADC pointed to successive governments, particularly under the All Progressives Congress (APC), having invested over $18 billion in the rehabilitation of the country’s three major refineries—Port Harcourt, Warri, and Kaduna—since 2010. It noted that the current administration alone has reportedly spent an additional $2.8 billion on similar efforts, yet the refineries remain largely idle with no significant improvement in refining capacity or fuel security for Nigerians.
The party expressed suspicion over the government’s recent shift from announcing partial operations at the Port Harcourt and Warri refineries to pushing for full privatisation through the Nigerian National Petroleum Company Limited (NNPCL). “It is therefore curious that the same government, having spent such humongous amounts on the refineries, is now planning to sell them off,” the statement read.
Abdullahi criticised the history of “turnaround maintenance that never turned anything around but the personal fortunes of those involved,” describing the ongoing situation as a “black hole for public funds.” He referenced comments from Africa’s foremost industrialist, Alhaji Aliko Dangote, who has publicly doubted the viability of the government-owned refineries, stating they are obsolete and unlikely to function effectively again.
The ADC argued that if privatisation was the long-term goal, the extensive public spending on rehabilitation represents “at best a waste, and at worst a scam.” It demanded a full forensic audit—covering financial, technical, and structural aspects—of all funds allocated to the refineries from 2010 onwards, conducted by an independent third party.
Furthermore, the party insisted that audit findings be presented publicly through a legislative hearing, involving civil society, energy economists, and anti-corruption agencies. “Until then, any attempt to sell these refineries must be considered not just illegitimate, but criminal,” the statement warned.
The ADC framed the issue as one of public trust, accusing the government of using privatisation as a “cover-up” for years of systemic failure rather than a genuine policy reform. “If this government truly believes in reform, then it must begin with the truth. And if it claims to be accountable, then it must submit itself to scrutiny,” Abdullahi stated.
The call comes amid broader debates on Nigeria’s energy sector, where reliance on imported refined petroleum products persists despite the country’s vast crude oil reserves. The ADC urged the government to explore alternative options and consult stakeholders before proceeding with any sale, warning against “underhanded dealings” that could further erode public confidence.
