Presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised President Bola Tinubu over the huge public funds committed to Nigeria’s struggling refineries, accusing his administration of failing to deliver the promised results.
Atiku, through his Senior Special Assistant on Public Communication, Phrank Shaibu, said Tinubu should stop blaming previous administrations for the country’s refinery problems and instead account for the resources spent on the facilities under his government.
According to Atiku, records from the Nigerian National Petroleum Company (NNPC) show that the combined obligations of the Port Harcourt, Warri and Kaduna refineries increased from about ₦4.52 trillion at the end of 2023 to ₦8.67 trillion by the end of 2024—an increase of approximately ₦4.15 trillion in one year.
He argued that the Tinubu administration cannot claim credit for the refineries when they appear to be functioning and later blame previous governments when problems emerge.
Atiku recalled that in November 2024, the government announced that the Port Harcourt refinery had resumed operations at 70 per cent capacity, presenting the development as a major achievement of the Tinubu administration.
He questioned why the government would now describe the refineries as inherited liabilities when its own officials had previously celebrated their rehabilitation.
“Atiku said the government must explain what Nigerians received in return for the trillions committed to the facilities, including where the money went, what products were produced and where the promised savings went.”
He further cited subsequent statements by NNPC officials that the refineries were operating at a “monumental loss,” arguing that such revelations raise serious questions about the management of public funds.
According to Atiku, the situation is particularly troubling because Nigerians continue to face high petrol prices while billions of naira remain tied up in refineries that have yet to provide sustainable domestic refining capacity.
He said the money spent on the facilities could have been used to improve universities, hospitals, roads, electricity and access to clean water across the country.
Atiku described the situation as an “unforgivable failure of stewardship” and accused the Tinubu administration of spending heavily on projects before they are fully operational.
He said Nigerians deserve transparency and accountability over the money committed to the refineries, adding that the government should take responsibility for problems that have developed during its tenure rather than continually blaming its predecessors.
Atiku concluded that Nigeria cannot afford another four years of spending public resources on projects that fail to deliver meaningful results.