Nationalists Movement Slams NNPCL Over $2 Billion Wasted on Refineries
The Nationalists Movement (NM) has lent its support to former President Olusegun Obasanjo’s recent comments regarding the mismanagement of Nigeria’s refineries by the Nigerian National Petroleum Company Limited (NNPCL). In a statement issued on Friday, Elder Ogbor Awuru, representing the Movement, stated that Obasanjo’s assertion about over $2 billion being wasted on the refineries is a strong indictment of the NNPCL’s leadership and management.
Obasanjo, during an interview with Channels Television on Thursday, expressed skepticism about the actual functionality of the Port Harcourt and Warri refineries, despite claims by the NNPCL that the facilities were back in operation. He further alleged that the NNPCL had sabotaged a 2007 offer from Aliko Dangote, who proposed a $750 million deal to manage the refineries under a Public-Private Partnership (PPP) model. According to Obasanjo, the NNPCL misled his successor, the late President Umar Yar’adua, into rejecting Dangote’s offer, despite knowing they were incapable of effectively managing the refineries.
In response, NNPCL has defended its position, stating that it has indeed revived the refineries and invited Obasanjo to tour the facilities. However, the Nationalists Movement has sided with Obasanjo, emphasizing that the rejection of Dangote’s offer in 2007 was a costly misjudgment. The Movement also criticized the NNPCL for its continued mismanagement of the refineries, which has led to billions of dollars being squandered without meaningful results.
According to the Nationalists Movement, the Port Harcourt refinery, despite claims of operation, is merely blending crude oil rather than refining it—a practice they deem deceptive. The Movement called for urgent reforms, highlighting the need to address the persistent corruption and mismanagement within the NNPCL.
The group also expressed concerns about Mele Kyari, the current Group Chief Executive Officer of NNPCL, accusing him of a lack of transparency and accountability. They argued that his leadership has been marked by inadequate action in addressing the systemic issues within the oil and gas sector, using public relations tactics to mask failures rather than confronting underlying problems.
The Nationalists Movement has called on President Bola Tinubu to take decisive action against the corruption and inefficiency within the NNPCL, urging him to ensure that the nation’s resources are managed properly for the benefit of the Nigerian people.
