“Nigerians can never trust NNPC leadership” – Public affairs analyst, Dan Kunle, faults fresh 24-month refinery repair pledge

By Sufuyan Ojeifo

A public affairs commentator, Dan D. Kunle, has accused the NNPC Ltd leadership of repeating “failed promises” on Nigeria’s refineries, saying Nigerians have lost confidence in the oil company’s ability to deliver.

Kunle faulted the one-year-old NNPC Ltd management for announcing that the four Federal Government refineries would become operational in 24 months with Chinese partners who have yet to take a Final Investment Decision, FID.

—“20 Years of Unfulfilled Promises”—

Kunle said the latest pledge mirrors two decades of similar assurances that never materialised.

“For the last 20 years, they failed to fix the four FGN Refineries. They told us every year that the Refineries will work. They organised travels and trips to validate their claims, the Refineries remain without flares” he stated.

He described the new timeline as “Here we go again,” adding that public managers “don’t learn from past errors” and “always think they are wiser and smarter, thus history is repeated by Man.”

—“Warri Petrochemical to be Viable, Refinery to Run at Loss”—

The analyst cited recent Arise TV reports from Warri Refinery by Mr. Sumner Sambo Shagari, noting that under the new plan, the petrochemical unit of Warri refinery will be made viable while the refinery itself will operate at a loss.

“With caveat, we have been told that the petrochemical unit of Warri refinery will be made viable while the refinery will operate at a loss. That is the red flag,” he said.

—Calls for Privatisation or Liquidation—

Kunle argued that the only transparent path forward is to privatise or liquidate the refineries rather than enter opaque repair deals.

“The simple template for transferring public assets to private is by privatisation, or Liquidations or Concessions. In the cases of Refineries, the only Transparent way to Sell them is by Privatisation or Liquidations. By that means, the new owner investors are assured of future probe free ownerships,” he said.

He also urged Nigerians to demand clarity on the Chinese repairers and the model of deal being proposed.

—“Focus on Upstream Instead”—

The Abuja-based commentator advised NNPC Ltd to redirect energy to attracting investment in upstream oil and gas production.

“The journey ahead is going to be rough and more energy and focus should be on attracting investment in upstream oil and gas productions. Nobody does not want the Refineries to work for the common good of Nigerians except the leadership of NNPC LTD in the last 18 years*,” Kunle said.

He concluded: “I remain a patriotic doubting Citizen of Nigeria if public managers can ever deliver profitable projects to us. History is my best Teacher.”

—Background—

NNPC Ltd in recent weeks announced new repair timelines for Port Harcourt, Warri and Kaduna refineries, hinged on partnerships with foreign investors. Previous deadlines set by past managements since 2005 have repeatedly been missed.