The African Democratic Congress (ADC) has demanded a full audit of Nigeria’s state-owned refineries, expressing shock that over $18 billion has been spent on so-called rehabilitation efforts with no visible results.
In a statement released by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC questioned the transparency and motives of the Tinubu administration, especially after it committed an additional $2.8 billion to the facilities before declaring them non-functional.
“The African Democratic Congress (ADC) has noted with deep concern the recent confirmation by the Tinubu administration and the leadership of the Nigerian National Petroleum Company Limited (NNPCL) that the federal government is proceeding with the full privatisation of Nigeria’s state-owned refineries,” the party stated.
They said it was confusing that the government had earlier claimed the Port Harcourt and Warri refineries were operational, only to now initiate their sale.
“It would be recalled that the APC government recently announced that the refineries were already working. It is therefore curious that the same government, having spent such humongous amounts on the refineries, is now planning to sell them off.”
Refinery Waste or National Scam?
The ADC said it suspects that the so-called turnaround maintenance projects, repeatedly announced over the years, were nothing more than cash drains meant to enrich private individuals.
“ADC is concerned about the perennial waste and underhanded dealings in the name of turnaround maintenance that never turned anything around but the personal fortunes of those involved.”
They warned that selling the refineries now, without wide consultation, could lead to shady deals and backdoor sales of national assets to political cronies.
“Selling off the refineries under the prevailing circumstances is indeed conducive for all sorts of criminal dealings, whereby national assets could be deliberately devalued and sold to cronies.”
The party called for a complete and independent audit—financial, technical, and structural—before any discussions about privatisation should even begin.
No Fuel, No Refining, No Justification
The ADC slammed the current and previous APC-led administrations for wasting billions of dollars while fuel importation and subsidy continue to dominate Nigeria’s energy space.
“Successive APC administrations have poured over $18 billion into the so-called rehabilitation of Nigeria’s refineries. The current administration is reported to have spent another $2.8 billion under the same pretext. Yet there is no verifiable increase in refining capacity, no observable cost efficiency, and no fuel security benefit accruing to the Nigerian people.”
They also referenced Alhaji Aliko Dangote, who had openly expressed doubts about the viability of the refineries. His private refinery in Lagos now stands as the only functional facility.
“Even Africa’s foremost industrialist, Alhaji Aliko Dangote, whose private refinery now stands as the only viable refining asset in the country, has publicly stated his doubts that these government-owned refineries can ever work again.”
“The infrastructure is obsolete, the operations are hollowed out, and the entire value-chain has become a black hole for public funds.”
Opposition Accuse Government of Waste
The ADC insists that if the government always intended to sell the refineries, then the billions spent on rehabilitation were either a monumental waste or a massive scam.
They said no responsible government should spend public money on assets, then turn around and sell them without explanation or accountability.
“Government cannot, in good conscience, expend public funds on assets under the guise of rehabilitation, only to turn around and offer them for sale—without accountability on the investments already made and without any public reckoning.”
They demanded a forensic audit covering the years 2010 to date, and an open legislative hearing involving civil society, energy experts, and anti-corruption agencies.
“The ADC believes that before any conversation about privatisation can proceed, there must be a comprehensive forensic audit of all funds allocated to refinery rehabilitation from 2010 to date.”
“The audit findings must be presented in full to the public through a legislative hearing, with civil society, energy economists, and anti-corruption agencies present.”
“Until then, any attempt to sell these refineries must be considered not just illegitimate, but criminal.”
They concluded by urging the Tinubu administration to come clean on its real intentions.
“This is not simply about public finance. It is about public trust. 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.”
“What we are witnessing is not a policy decision. It is a cover-up. And the ADC will not stand by while national assets are quietly auctioned to cronies and to mask years of systemic failure.”
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