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Stakeholders express divergent views on refinery revival – EnviroNews
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Nigerians from different sectors of the economy have expressed divergent views over the Federal Government’s plan to revive the state-owned refineries.
They expressed their views in separate interviews with on Sunday, August 16, 2026, in Lagos.
President Bola Tinubu, on Thursday, assured Nigerians that the nation’s refineries would resume operations.
He gave the assurance when he received the Executive President of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Mr. Salimon Oladiti, and members of the union at the Presidential Villa, Abuja.
Mr. Adekunle Makinde, former President, Nigerian Institution of Electrical and Electronic Engineers (NIEEE), said that refineries, as important national assets, should be preserved.
Makinde urged the president to undertake a comprehensive technical and economic assessment of the facilities before committing more resources to their rehabilitation.
“Let’s do a deep dive. Let’s understand the basics and fundamentals concerning these refineries and what exactly is required.
“These are not modern-day or state-of-the-art refineries. So, we need to determine how maintainable and sustainable they are before deciding whether to revive the old refineries or build new ones,” he said.
He said the outcome of such studies would help the government determine the most economically viable option.
Mr. Mohammed Shodipo, former Chairman, Nigerian Bar Association, Badagry Branch, however, expressed reservations about continued investment in the old refineries.
Shodipo said successive governments had committed substantial funds to rehabilitating and revitalising the facilities without achieving sustainable results.
He argued that directing such funds toward new refinery projects could provide better value for taxpayers’ money.
“The government of the day should be more proactive and result-oriented rather than just doing things for the sake of doing them.
“The present Nigerian economy requires prudent management of resources, making it important for government to ensure that every major project is economically viable, productive and sustainable,” he said.
Mr. Mustapha Ademola, Lagos Headquarters Scout Commissioner, Grassroots Development, welcomed the plan to revive the refineries and described it as a necessary step.
Ademola, however, said Nigerians expected transparency, accountability and measurable results from the initiative.
“Every Nigerian wants the refineries to work.
“The concern is that billions of dollars have reportedly been committed to rehabilitation over the years, yet the expected results have not been sustained,” he said.
He urged the government to disclose the amount already spent on each refinery, their current condition, the cost and scope of the proposed rehabilitation, contractors involved, timelines and independently verifiable milestones.
Ademola said restoring the refineries to efficient production could reduce dependence on imported petroleum products, conserve foreign exchange, strengthen energy security and create jobs and other economic opportunities.
Alhaji Taoheed Asimi, Chief Executive Officer, Abolusodun Nigeria Ltd., advocated a strategic partnership with private investors to improve the management and operation of the refineries.
Asimi urged the Federal Government to consider selling a 50 per cent stake in the refineries to a Chinese company or another multinational operating in Nigeria.
He said such an arrangement would enable government to retain a 50 per cent stake while the strategic investor would hold the remaining 50 per cent.
By Raji Rasak
