The Nationalists Movement (NM) has lent its support to former President Olusegun Obasanjo’s assertion that the Nigerian National Petroleum Company Limited (NNPCL) has mismanaged the nation’s refineries, resulting in massive financial losses.
In a statement signed by Elder Ogbor Awuru on Friday, the NM criticized the NNPCL for its alleged inefficiencies and corruption. The group described Obasanjo’s revelation that over $2 billion had been wasted on the refineries as a damning indictment of the corporation’s leadership.
During an interview with Channels Television on Thursday, Obasanjo cast doubt on claims by the NNPCL that the Port Harcourt and Warri refineries had resumed operations. He further alleged that the NNPCL blocked billionaire industrialist Aliko Dangote’s $750 million offer to manage the refineries in 2007 under a public-private partnership (PPP) arrangement.
Obasanjo disclosed that his successor, the late President Umaru Yar’Adua, refunded Dangote the $750 million after the NNPCL insisted it could manage the refineries independently. According to Obasanjo, this decision was a gross misjudgment, as the NNPCL has since failed to make the refineries functional, leading to billions of dollars being squandered.
In response to the ongoing debate, the NM released a strongly-worded statement, aligning with Obasanjo’s criticism of the NNPCL.
“We concur with Obasanjo that rejecting Aliko Dangote’s $750 million offer to manage the Port Harcourt, Warri, and Kaduna refineries was a monumental misstep,” the statement read. “Instead, the NNPCL chose to spend billions on refurbishing the refineries, with little to show for it.”
The group accused the NNPCL of misleading Nigerians with claims that the Port Harcourt refinery had resumed operations, alleging instead that the facility is merely blending crude oil and not refining it.
“This deception is unacceptable and underscores the urgent need to address the corruption and mismanagement within the NNPCL,” the NM asserted.
The NM also criticized the tenure of Mele Kyari, the Group Chief Executive Officer of the NNPCL, describing it as riddled with corruption and a lack of transparency.
“Kyari’s leadership style has been marked by elaborate publicity stunts to mask systemic failures. His handling of the Port Harcourt refinery issue is a glaring example of this approach,” the statement said.
The NM called on President Bola Tinubu to take swift and decisive action to address the issues plaguing the NNPCL.
“The Nigerian people deserve better,” the group emphasized. “It is time for the government to ensure that the nation’s resources are managed efficiently and transparently.”
Meanwhile, the NNPCL has maintained that it has revived the Port Harcourt and Warri refineries and extended an invitation to Obasanjo for a tour of the facilities. However, the NM dismissed this as a superficial move, urging the government to prioritize accountability and results over public relations efforts.
The allegations and counterclaims have intensified calls for a comprehensive overhaul of the NNPCL to restore public confidence in the management of Nigeria’s oil and gas resources.
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