Former President Olusegun Obasanjo has revealed the reasons why Nigeria’s four oil refineries located in Warri, Port Harcourt, and Kaduna states will never work.
According to Obasanjo, the government’s hold on the refineries and the rampant corruption within them are the main obstacles to their success.
“They will not work as long as the government is keeping hold of them. When I was president, I invited Shell to a meeting. I told them I wanted to hand over the refineries for them to help us run. They bluntly told me they would not. I was shocked.”
He disclosed that even Shell Oil Development Company refused to run the refineries due to the excessive corruption.
Obasanjo stated that during his presidency, he offered Shell the opportunity to manage the refineries, but they declined, citing four reasons, including the prevalence of corruption.
Despite President Bola Tinubu’s assurance that the Port Harcourt refinery will start functioning by December 2023, Obasanjo remains skeptical, asserting that as long as the government maintains control, the refineries will never be successful.
This article was updated 1 month ago