“Sale is not out of the question… all options are on the table,” NNPCL boss Ojulari told Bloomberg.
The Federal Government came under intense criticism Saturday after the Nigerian National Petroleum Company Limited (NNPCL) confirmed that Nigeria’s refineries might never resume operations, despite $18bn spent on rehabilitation.
Speaking in Vienna, Austria, NNPCL Group CEO Bayo Ojulari revealed the company was reviewing all options, including selling off the Port Harcourt, Warri, and Kaduna refineries. “Sale is not out of the question… all options are on the table,” he said.
This admission echoes concerns raised by Dangote Group Chairman, Aliko Dangote, who earlier declared the refineries may never work. Dangote likened their rehabilitation to modernising a 40-year-old car, stating, “They have spent about $18bn, and they are still not working.”
Opposition leaders and experts have since reacted with outrage, calling for a criminal probe into the mismanagement of billions allocated to the refineries.
“They must first carry out a due investigation into the corruption,” said CUPP’s Peter Ameh.
Political economist Pat Utomi said, “Anyone who understands how such things are run will know it was a waste.”
Former Senator Shehu Sani added, “I hope the refineries will not go the way of the Discos.”