Nigerian opposition party the African Democratic Congress (ADC) has intensified scrutiny over the federal government’s decision to privatize state-owned refineries, denouncing over $20 billion in taxpayer-funded rehabilitation efforts as a “black hole” marred by opacity and alleged mismanagement. The move follows revelations that $2.8 billion was injected into the facilities under President Bola Tinubu’s administration alone, despite their continued dysfunction and a sudden reversal of previous claims of operational progress.
Speaking through spokesperson Mallam Bolaji Abdullahi, the ADC accused authorities of flouting transparency. “Just months ago, officials announced partial resumption at Port Harcourt and Warri refineries,” the party stated. “Now, after pouring billions more into these projects, they declare them moribund and rush toward privatization. Where is the accountability?” The refineries, which have absorbed nearly $18 billion in public funds since 2013 for stalled upgrades, remain nonoperational, forcing Nigeria to rely on costly fuel imports.
Critics argue the pattern mirrors historic misuse of “turnaround maintenance” budgets, a term now synonymous with alleged elite profiteering rather than reform. The ADC warned that privatizing the refineries without audits risks undervaluing national assets for politically connected buyers. “Selling under these conditions invites criminal dealings,” Abdullahi asserted, demanding an independent forensic audit of all rehabilitation expenditures since 2010, alongside third-party technical reviews.
The party highlighted skepticism from billionaire industrialist Aliko Dangote, whose privately owned refinery—now Nigeria’s sole functional facility—has openly questioned the viability of reviving obsolete government plants. “The infrastructure is hollowed out,” the ADC quoted, framing privatization as a potential cover for past failures. “If the end goal was always to sell, then $20 billion in rehabilitation spending is at best wasteful, at worst fraudulent.”
With Nigerians enduring fuel shortages and soaring prices, the ADC insists the debate transcends economics. “This is about restoring faith in governance,” the party stressed, urging legislative hearings with civil society and anti-corruption watchdogs. It rejected the notion that privatization could proceed without public scrutiny, warning that hurried sales might shield past irregularities from accountability.
The Tinubu administration has yet to respond to audit demands or address contradictions between its earlier optimism and the refineries’ current state. As Africa’s largest oil producer grapples with refining inefficiencies, the ADC’s demands underscore broader concerns over systemic governance failures—and whether privatization offers genuine reform or merely a lifeline for decaying institutions.
