Former Nigeria President Olusegun Obasanjo has expressed strong skepticism about the future of Nigeria’s government-owned refineries, stating they are unlikely to ever operate efficiently again.
His comments reflect long-standing concerns about the poor performance of the facilities under the Nigerian National Petroleum Company Limited.
Obasanjo argued that despite huge investments over the years, the refineries have consistently failed to deliver results.
He noted that even international oil companies previously showed little confidence in managing the plants, reinforcing doubts about their viability.
He also referenced past efforts during his administration to privatise the refineries, revealing that investors – including major industry players – were willing to take over the assets, but the deal was later reversed by a succeeding government.
The former president suggested that continued government control is a major reason for the refineries’ persistent failure, implying that a different management approach – such as privatisation – might have yielded better outcomes.
Overall, the story highlights ongoing debates about the efficiency of Nigeria’s refining sector and the need for reforms, especially as the country continues to rely heavily on fuel imports despite being a major oil producer.