TINUBU BETS ON PH, WARRI REFINERIES DESPITE OBASANJO’S DOUBTS

President Bola Tinubu’s administration is continuing to back the rehabilitation and revival of the Port Harcourt and Warri refineries, despite concerns previously raised by former President Olusegun Obasanjo about the viability of government-owned refineries.

The Federal Government has maintained that restoring the refineries is important to increasing domestic refining capacity and reducing Nigeria’s dependence on imported petroleum products.

Officials said operational refineries would help Nigeria process more of its crude locally, improve energy security, and retain more value within the domestic economy.

The government’s position contrasts with Obasanjo’s earlier criticism of repeated investments in state-owned refineries, which he argued had failed to deliver sustainable results despite significant public spending.

Tinubu’s administration has, however, continued to invest in rehabilitation efforts and has expressed confidence that the facilities can return to productive operations.

Industry stakeholders said the success of the refineries would depend on efficient management, reliable crude supply, adequate maintenance, and commercially sustainable operations.

Analysts noted that Nigeria’s refining landscape has changed significantly with the emergence of large private-sector facilities, increasing competition and raising expectations for government-owned plants.

They said operational public refineries could complement private refineries by increasing domestic supply and strengthening competition within the downstream petroleum market.

Stakeholders also stressed the importance of transparency in refinery rehabilitation contracts and regular disclosure of operational performance.

They warned that continued spending without measurable improvements in production could increase pressure on public finances.

The government said reviving the refineries remains part of its broader strategy to strengthen Nigeria’s energy security and reduce reliance on imported refined products.

Tinubu has urged relevant agencies and operators to ensure that the refineries are run efficiently and contribute meaningfully to the country’s petroleum value chain.

The debate over the facilities highlights the broader challenge of balancing public investment in strategic infrastructure with the need for commercial efficiency and accountability in Nigeria’s oil sector.