Business

Reps Order Probe Into Alleged $18bn Spent On Non-Functional Refineries

The House of Representatives has ordered an investigation into the alleged $18 billion reportedly spent on the rehabilitation of Nigeria’s refineries without any tangible results.

The resolution followed the adoption of a motion by Hon. Sesi Whingan (APC, Lagos) during plenary on Thursday.

Whingan, in his motion, expressed concern that despite over two decades of rehabilitation efforts and billions of dollars reportedly expended, the nation’s refineries in Port Harcourt, Warri, and Kaduna have remained largely non-functional.

He referenced comments attributed to industrialist Aliko Dangote, who alleged that about $18 billion had been sunk into the rehabilitation of the facilities over the years.

“Despite consistent annual budgetary allocations, there is no verifiable evidence of any substantial rehabilitation outcomes. This represents a gross misuse of public funds and a betrayal of public trust,” Whingan said.

The lawmaker stressed that with the removal of petrol subsidy by the current administration, the need for operational refineries has become even more urgent to cushion economic hardship and ensure energy security.

He called for a “comprehensive, transparent, and time-bound” investigation to determine the current status of the refineries and assess how funds allocated for their rehabilitation were utilized.

Following a voice vote, the motion was adopted and referred to the House Committees on Petroleum Resources (Upstream and Downstream), Public Assets, and Gas Resources for further investigation. The committees are expected to report back within four weeks.

In 2021, the Federal Executive Council (FEC) approved $1.5 billion for the rehabilitation of the Port Harcourt refinery and another $1.48 billion for the Warri and Kaduna refineries.

Although the Nigerian National Petroleum Company (NNPC) Limited announced in late 2024 that the Port Harcourt refinery had commenced operations, it was later shut down for maintenance. The Warri and Kaduna refineries are said to still be under rehabilitation.

In July 2025, NNPC Group Chief Executive Officer, Bayo Ojulari, disclosed that the company was considering selling the refineries due to the complexity and cost of ongoing rehabilitation efforts.

Olayinka Babatunde

Recent Posts

2027: Peter Obi Vows Jail Terms for Electoral Offenders if Elected President

The presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has vowed to ensure…

11 hours ago

600 Lagos-Calabar Coastal Highway Workers Protest Salary Cuts, Poor Conditions in Cross River

About 600 workers on Section 3B of the Lagos-Calabar Coastal Highway project in Cross River…

11 hours ago

TUC Rejects FG’s N70,000 Wage Award, Demands N300,000 Minimum Salary

The Trade Union Congress of Nigeria (TUC) has rejected the Federal Government’s proposed N70,000 wage…

12 hours ago

NIS Inauguration: Don Warns Surveyors Against Falling Behind as Technology Advances

 A university don, Prof. Oluwafemi Oyetunde Adeleke, has warned surveyors against falling behind in the…

15 hours ago

AbdulRazaq Promises Kwara Pensioners Permanent Secretariat, Bus

Kwara State Governor, AbdulRahman AbdulRazaq, has promised to provide pensioners in the state with a…

15 hours ago

NELFUND Pilots Tokenised Payment System to Prevent Double School Fee Payments

The Nigerian Education Loan Fund (NELFUND) has commenced a pilot of a tokenised payment system…

16 hours ago