By Blessing Fali
President Bola Tinubu has expressed confidence that Nigeria’s Port Harcourt and Warri refineries will return to sustainable operations, despite former President Olusegun Obasanjo’s doubts about the viability of government-owned refineries.
Tinubu said his administration remains committed to reviving the facilities and making them economically viable, rather than allowing them to remain dormant assets.
The President’s position comes as the Federal Government continues efforts to rehabilitate Nigeria’s ageing refineries, with the Port Harcourt and Warri facilities among those expected to contribute to increased domestic refining capacity.
Obasanjo, however, has repeatedly questioned the ability of government-owned refineries to operate efficiently and profitably. He has advocated greater private sector participation in the management of the facilities, pointing to the success of privately managed energy projects in Nigeria.
The debate comes after years of significant government spending on refinery rehabilitation, with Nigerians still waiting for consistent and large-scale production from the facilities.
Tinubu’s administration believes that restoring the refineries will reduce Nigeria’s dependence on imported petroleum products, strengthen energy security, create jobs and improve the country’s petroleum industry.
The success of the government’s plan will ultimately depend on whether the refineries can achieve stable production, operate profitably and avoid the repeated shutdowns and rehabilitation cycles that have affected Nigeria’s refining sector.
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