The African Democratic Congress, (ADC), has demanded a full audit of Nigeria’s refineries before any plans to sell them proceed, warning that nearly $18 billion spent on rehabilitation efforts may have gone to waste.
In a statement by its National Publicity Secretary, Bolaji Abdullahi, the party questioned the Tinubu administration’s decision to privatise the refineries shortly after claiming partial operations had resumed, despite a fresh $2.8 billion investment.
“It’s alarming that the same government which declared the refineries functional is now selling them off without accountability or stakeholder consultation,” the ADC said. “This raises serious concerns of mismanagement and possible fraud.”
The party called for a forensic audit – financial, technical, and structural – dating back to 2010, with findings presented at a public legislative hearing involving civil society and anti-corruption bodies.
Citing Aliko Dangote’s doubts about the refineries’ viability, the ADC warned that selling them under current conditions could lead to national assets being undervalued and handed to cronies.
“This is not reform; it’s a cover-up”, the ADC concluded, insisting that no sale should proceed without full transparency.
