The African Democratic Congress (ADC) is demanding a comprehensive audit of Nigeria's refineries before any sale.
This call comes after significant government spending on refinery rehabilitation, specifically $2.98 billion approved under the immediate-past Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC), Mele Kyari.
Key points raised by the ADC:
1.Questioning past expenditure: The ADC, through its interim national spokesman Bolaji Abdullahi, questioned if President Bola Tinubu’s administration misled Nigerians after $2.8 billion was spent on refineries that were later declared non-functional.
2. Failed rehabilitation efforts: Despite the substantial investment, the Port Harcourt and Warri refineries briefly resumed operations before shutting down, while the Kaduna refinery remains idle.
3. Proposed sale: The new NNPC GCEO, Bayo Ojulari, recently revealed in an interview with Bloomberg that Nigeria is considering selling its refineries.
4. Demand for forensic audit: The ADC insists on a comprehensive forensic audit of all funds allocated to refinery rehabilitation from 2010 to date, along with a third-party technical assessment to determine the true status of the assets.
5.Public accountability: The audit findings, according to the ADC, must be presented publicly through a legislative hearing involving civil society, energy economists, and anti-corruption agencies
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6. Transparency concerns: The ADC views any attempt to sell the refineries without these steps as illegitimate and potentially criminal, raising concerns about transparency and the consistency of government policy, especially given recent claims of partial resumption of operations.
7. Fear of asset devaluation: The party also fears that selling the refineries under the current circumstances could lead to criminal dealings, where national assets are deliberately devalued and sold to cronies.
The ADC's stance highlights significant public and political concern over the management of Nigeria's oil refineries and the potential implications of their proposed sale.