The African Democratic Congress (ADC) has strongly criticised the federal government’s plan to privatise Nigeria’s state-owned refineries, calling for a full audit of the $20.8 billion reportedly spent on their rehabilitation over the years.
In a statement by Mallam Bolaji Abdullahi, the party’s interim national publicity secretary, the ADC accused the Tinubu administration of misleading Nigerians after spending $2.8 billion on the refineries, only to declare them non-functional and propose their sale.
The ADC highlighted inconsistencies in the government’s claims, noting that officials had recently announced the partial resumption of operations at the Port Harcourt and Warri refineries, only to reverse course and declare them “moribund.”
This abrupt shift, the party argued, raises serious concerns about transparency and policy coherence. The ADC described the refineries as a “black hole for public funds,” alleging that successive administrations under the All Progressives Congress (APC) have wasted billions on failed turnaround maintenance projects that only enriched a select few.
The party demanded an independent forensic audit—covering financial, technical, and structural aspects—before any privatisation moves. It warned that selling the refineries without accountability could lead to undervaluation and cronyism, with national assets being handed over to political allies at the expense of the public.
Citing industrialist Aliko Dangote’s scepticism about the refineries’ viability, the ADC questioned the timing of the sale, suggesting that if privatisation was always the end goal, the years of public spending were either a colossal waste or a deliberate scam.
The party urged legislative hearings with civil society and anti-corruption agencies to ensure transparency, framing the issue as a matter of public trust rather than mere economic policy .
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cc: Daily Post Ng
