The Nigerians in Diaspora Movement (NDM) has accused the Nigerian National Petroleum Corporation Limited (NNPCL) of promoting a monopolistic environment that benefits Dangote Refinery by neglecting the revival of government-owned refineries.
Dr. Donald Illiya, NDM’s Global President, expressed these concerns in a statement released on Monday, November 25, from London.
He claimed that NNPCL has intentionally kept the Port Harcourt, Warri, and Kaduna refineries inactive, despite investing over ₦17 trillion in their rehabilitation over the past 20 years.
Illiya emphasized, “Given the state of the nation’s economy and the ongoing cost of living crisis, Nigeria’s future is linked to the government-owned refineries, which must be made operational to significantly reduce fuel prices.”
He also criticized the public disputes between NNPCL and Dangote Refinery, suggesting they serve as a distraction to conceal the agency’s role in fostering a monopoly.
The group pointed out that refinery rehabilitation funds have been poorly managed, with trillions of naira spent on turnaround maintenance from 2002 to 2022, yet no substantial outcomes have been achieved.
Illiya highlighted that during President Muhammadu Buhari’s administration, $1.5 billion was allocated in 2019 for refinery repairs. However, completion deadlines, including the Port Harcourt Refinery’s targets for 2023 and 2024, have consistently been missed.
The NDM voiced concerns that corruption within NNPCL is the underlying issue.
“The refineries are being deliberately left non-functional to pave the way for a monopoly. This is a deeply unfortunate development,” the statement said.
The group urged President Bola Tinubu to take immediate action to address the “decay” within NNPCL and focus on restoring the functionality of local refineries.
They cautioned that permitting a monopoly in the oil sector could result in increased fuel prices and create a significant vulnerability in the nation’s fuel supply chain.
