*Obansanjo accuses NNPCL of squandering $2bn without reviving nation’s refineries
*Alleges that NNPCL rejected Dangote’s $750m offer to get refineries working
*Reveals that Shell refused to run refineries due to “too much corruption around activities of refineries”
*NNPC says it’s not true, invites Obasanjo to inspect rehabilitated refineries
By Our Correspondent with agency report
Former President Olusegun Obasanjo has accused the Nigeria National Petroleum Corporation Limited, NNPCL of squandering a whooping sum of $2 billion without getting any of the nation’s three refineries working.
Obasanjo who spoke in an interview with Channels Television yesterday further alleged that the Corporation advised his predecessor, Umar Musa Ya’adua to reject an offer by the Dangote group to take over the refineries on Public-private partnership basis for the sum of $750 million.
He also revealed that Shell refused to take over the refineries when invited because according to them, “there was too much corruption around the activities of our refinery and they would not want to get involved in that.”
“I was told not too long ago that since that time, more than two billion dollars have been squandered on the refinery and they still will not work”, he added.
Earlier, the former President had revealed how his successor, late President Umar Musa Yar’Adua, rejected Alhaji Aliko Dangote’s bid to manage Nigeria’s refineries on a public-private partnership basis.
Her further explained how he sought external help to rehabilitate and manage the facilities but faced resistance saying that after Shell’s refusal to manage the refineries, Dangote assembled a team and paid $750 million to operate the refineries through a public-private partnership.
He noted that Dangote has capacity to manage his privately-owned refinery effectively, contrasting it with the government’s inefficiency.
“I asked Shell to come and run it for us and Shell said they wouldn’t I said, please come and take equity they said no. I said okay, don’t take equity, come and run it, they said no.
“Later on, I called them. I called the boss of Shell to come and tell me what the problem was and he gave me four or five reasons. He said, first of all, they make a major profit from upstream, not from downstream. He said they run downstream just to keep their head above water.
“Two, our refineries were too small: 60,000 barrels 100,000 barrels and I think 120,000 barrels. He said that at that time, the average refinery was going for 250,000 barrels.
“Three, he said our refineries were not well maintained. Four, he said that there was too much corruption around the activities of our refinery and they would not want to get involved in that.
“Aliko got a team together and they paid $750m to take part in PPP (Public–Private Partnership) in running the refineries. My successor refunded their money and I went to my successor, I told him what transpired, he said NNPC said they wanted the refinery and they could run it and I said but you know they cannot run it.
“I was told not too long ago that since that time, more than two billion dollars have been squandered on the refinery and they still will not work.
“If a company like Shell tells me what they told me, I will believe them. If anybody tells you now that it is working, why are they now with Aliko? And Aliko will make his own refinery work; not only make it work, he will make it deliver”, he added.
Meanwhile, the Nigerian National Petroleum Company Limited (NNPC) has invited former President Olusegun Obasanjo to tour its rehabilitated refineries following his public skepticism about the viability of the $2 billion invested in the facilities.
In response, NNPC’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, acknowledged the former president’s stature and contributions but highlighted the company’s recent transformation.
“We hold President Olusegun Obasanjo in the highest regard as a statesman who has significantly contributed to Nigeria’s development. His observations are deeply respected. However, we wish to emphasize that NNPC has undergone a remarkable transformation,” Soneye stated.
He explained that the company has shifted from a loss-making entity to a profit-oriented global energy leader. He also described the refinery rehabilitations as comprehensive overhauls designed to meet world-class standards, distinguishing them from the less impactful Turnaround Maintenance of the past.
Soneye credited the achievements to the leadership of the NNPC board, led by Group CEO Mele Kyari, and President Bola Ahmed Tinubu’s transformative energy policies.
