Former President Olusegun Obasanjo has again declared that the NNPC refineries in Port Harcourt, Warri, and Kaduna will never work, speaking during a television interview aired on Saturday night. Obasanjo recounted how Shell refused to run the facilities, citing small capacity, poor maintenance, and corruption. He also revealed that Aliko Dangote once offered $750m for 51% of two refineries, but the late President Yar'Adua reversed the deal after pressure from NNPC. Obasanjo praised current NNPC GCEO Bayo Ojulari for telling the truth about the refineries' state.
Key Points
- Nigerians face continued fuel import dependence as domestic refining remains unreliable.
- Billions of dollars spent on rehabilitation yield no commercially competitive output.
- NNPC insiders and political elites may benefit from keeping refineries non-functional.
- A former president's public pessimism deepens public distrust in state-owned assets.
- The Dangote refinery advantage widens as NNPC facilities lag further behind.
Watch whether NNPC secures credible technical partners by June 2026 or if Obasanjo's prediction proves accurate.
Sources : Premium Times
