Tinubu orders fresh assessment, restructuring of refineries

By Firdaus Jibril

President Bola Ahmed Tinubu has directed a fresh assessment and restructuring of Nigeria’s refineries as part of efforts to return the facilities to operation and make them commercially viable.

Tinubu said the refineries would not be allowed to remain idle despite the huge investments made in them over the years, but stressed that government would first address the structural, operational, financial and managerial problems affecting the facilities.

The President spoke on Thursday in Abuja when he received the national executive of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), led by its National President, Salimon Akanni Oladiti, at the State House.

Responding to NUPENG’s request for the revival of the country’s refineries, Tinubu said government would adopt a systematic and evidence-based approach rather than rely on short-term interventions.

He said detailed research and technical assessments would be undertaken to establish the problems affecting the facilities and determine sustainable solutions for their rehabilitation and operation.

The President said the objective was not simply to restart the refineries but to ensure that they operate profitably and deliver the value for which they were established.

He said the refineries would return to operation, adding that his administration had accepted responsibility for fixing the country’s inherited assets and liabilities.

NUPENG had appealed to the President to sustain efforts to revive the refineries, saying functional domestic refineries would strengthen Nigeria’s energy security, reduce dependence on imported petroleum products and create more opportunities for Nigerian workers.

The union also commended the removal of petrol subsidy, describing it as a difficult decision that had saved the country from prolonged financial drain.

Tinubu’s latest position comes as Nigeria’s domestic refining capacity continues to expand, with the Dangote Petroleum Refinery and a number of modular and government-owned refineries forming part of efforts to increase local petroleum-product production.

The President’s emphasis on profitability means that the proposed refinery revival will involve not only technical rehabilitation but also attention to the financial and management structures required to keep the facilities operating sustainably.