Former President Olusegun Obasanjo recently shared his perspective on why Nigeria’s four oil refineries, located in Warri, Port Harcourt, and Kaduna states, continue to struggle.
In an interview with The Cable Online Newspaper, Obasanjo asserted that these refineries will remain non-operational as long as the government maintains control over them.
During the interview, Obasanjo recalled his attempt to involve Shell Oil Development Company in running the refineries, an offer that was declined. He highlighted the reasons given by Shell, which included concerns about rampant corruption within the refineries.
It’s worth noting that President Bola Tinubu had expressed optimism about the Port Harcourt refinery becoming operational by December 2023, thanks to an ongoing rehabilitation contract between NNPCL and Italian firm Maire Tecnimont SpA.
Obasanjo’s candid assessment of the situation reflects the challenges faced by Nigeria’s refineries and the need for systemic reforms to address issues such as corruption, mismanagement, and attracting private investment.
Ultimately, the journey to revitalizing Nigeria’s refineries remains complex, with various stakeholders holding different perspectives on the path forward.