HomeNewsReps launch probe into $18bn spent on non-functional refineries

Reps launch probe into $18bn spent on non-functional refineries

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The House of Representatives has launched an investigation into the non-functionality of Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna, despite over $18 billion reportedly spent on their rehabilitation in the past 20 years.

READ ALSO: NSCDC destroys 8 illegal modular refineries in Abia

The resolution came after lawmakers considered and adopted a motion on notice sponsored by Oluwaseun Whinghan, a member representing Lagos, during Thursday’s plenary session presided over by Deputy Speaker Benjamin Kalu.

Whinghan expressed concern that despite the huge financial investments, the refineries have remained dormant, questioning the transparency and accountability of the rehabilitation process.

He noted that Nigeria’s refineries were privatized in 2007 under the administration of President Olusegun Obasanjo, but the decision was later reversed by the government of the late President Umaru Musa Yar’Adua, which opted for public funding of the facilities.

According to the lawmaker, the continuous failure of the refineries after such massive funding amounts to mismanagement and a betrayal of public trust. He warned that the situation poses serious implications for Nigeria’s economy and energy security, especially after the removal of the fuel subsidy.

Following the debate, the House mandated its relevant committees to investigate all funds appropriated and disbursed for refinery rehabilitation between 2010 and 2024. The committees are also to assess the current operational and structural status of the refineries, identify individuals or agencies responsible for mismanagement, and submit a report within four weeks for further legislative action.

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