NNPC: Atiku Calls for Discontinuance of Proposed Refinery Deal, Gives Reason
- Atiku Abubakar urged the discontinuation of proposed refinery deals, citing historical failures
- NNPCL's refinery's alleged failure underscored the need for privatisation, according to Atiku
- Political pressures hindered sound economic policies in Nigeria's refinery sector
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering politics, elections, governance and public affairs in Nigeria and Africa.
FCT, Abuja - African Democratic Congress (ADC) chieftain Atiku Abubakar has said any proposed refinery deal, including with foreign partners, should be discontinued.
According to the former vice president (VP), any proposed refinery deal “merely repeats failed models.”
Source: UGC
‘NNPCL’s refinery failure justifies privatisation’
The opposition leader spoke via a social media post on Sunday, February 8.
For years, the NNPCL has been dogged by bribery scandals, financial transparency concerns, and persistent questions over its dual role as both an industry player and a regulator of other firms. Atiku expressed clear dissatisfaction with the state of the nation.
He wrote on his X page:
“After gulping $1.5bn, the Nigerian National Petroleum Company Limited has now admitted that reopening the Port Harcourt Refinery is a waste of scarce resources. This belated admission validates my long-held position that Nigeria’s refineries should be privatised.
“It is instructive that the Tinubu administration has finally come to terms with an inevitable truth: pouring public funds into moribund refineries is economically indefensible. Paying billions in salaries to facilities that produce not a single litre of petrol does not serve the national interest.”
The presidential hopeful said for years, he advanced “this patriotic position” and was vilified and accused of plotting to sell public assets to cronies.
Atiku added:
“Today, the facts have caught up with the rhetoric. Decades of so-called turnaround maintenance have swallowed billions of dollars with nothing to show for it, exposing deep deficits in capacity, technical know-how, and financial discipline.”
Source: Twitter
Atiku slams refinery spending
Furthermore, the 79-year-old stated that the alleged latest push by the President Bola Tinubu-led administration to resuscitate these refineries was driven by political pressure, not economic sense.
Read Atiku's X post below:
He warned:
“Politics must never substitute for sound, transformative policy.”
Conclusively, Atiku argued that Nigeria would have been better served by selling the refineries pre-rehabilitation. According to him, this will prevent “ballooning debt and the steady depreciation of what have effectively become liabilities.”
Read more on Atiku Abubakar:
- Cleric releases 2026 prophecies, seeks prayers for Atiku, VeryDarkMan as full message emerges
- 2027 election: Peter Obi predicted to align with Tinubu, "he will never agree to work with the coalition"
- Atiku clarifies encounter with APC’s Yari in Abuja as ex-VP sets sights on sacking Tinubu
Atiku told to quit politics
Legit.ng earlier reported that Muhammed Basil, a member of the House of Representatives from Adamawa State, urged Atiku to withdraw from partisan politics and assume the role of an elder statesman.
Basil, who represents Jada/Ganye/Toungo/Mayo-Belwa federal constituency on the platform of the Peoples Democratic Party (PDP), made the call as Nigerians look forward to the 2027 elections.
The legislator stated that it was time for Nigeria's presidential hopeful, Atiku, to step aside and allow younger politicians to take the lead.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
