Aliko Dangote has voiced strong doubts over the future of Nigeria’s government-owned refineries, questioning whether they’ll ever return to full operation, NaijNaira can report.
Speaking during a visit by members of Global CEO Africa from Lagos Business School, Dangote highlighted what he described as the futility of repeated turnaround maintenance at the NNPC-managed Port Harcourt, Warri, and Kaduna refineries.
According to ICIR, the billionaire compared the efforts to upgrading a decades-old vehicle with modern components: “Even if you change the engine, the body will not be able to take the shock of that new technology engine.”
He revealed that despite about $18 billion spent on repairs, these facilities remain dormant, unlike his privately-run 650,000 barrels-per-day Dangote Refinery, which dedicates over 50% of output to petrol.
He noted that when his team briefly took over the refineries in 2007, they only produced 22% PMS before being returned under pressure from former officials.
“They told Yar’Adua that Obasanjo gave them to us as a parting gift,” he recalled.
Recent shutdowns of both Port Harcourt and Warri refineries—just months after reopening declarations—have renewed calls for full privatisation of NNPCL assets.
Article updated 4 days ago. Content is written and modified by multiple authors.
