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NNPC Considers Refineries Sale After Dangote’s Verdict
He said the company is, among other options, considering selling the refineries because the rehabilitation works were not yielding the desired results due to how obsolete the facilities have become over the years.
On Thursday, Dangote, who is the President of the Dangote Group, said the NNPC refineries might not resume operations despite having gulped about $18bn.
Ojulari echoed a similar sentiment in an interview with Bloomberg on Thursday in Vienna, Austria, stating that the country had invested heavily in the refineries without seeing any tangible results.
His comments were in sharp contrast with those of his predecessor, who told Nigerians in November 2024 that all the refineries would resume full operations.
Speaking with Bloomberg on Thursday at the 9th OPEC International Seminar, Ojulari said a strategic review of NNPC’s refinery operations is underway and expected to be concluded before the end of the year.
“We’re reviewing all our refinery strategies now. We hope before the end of the year, we’ll be able to conclude that review. That review may lead to us doing things slightly differently,” he stated.
Asked if that could include selling off the refineries, Ojulari said, “What we’re saying is that sale is not out of the question. All the options are on the table, to be frank, but that decision will be based on the outcome of the reviews we’re doing now.”
Like Dangote, Ojulari attributed some of the setbacks to outdated infrastructure and underperforming technologies. “On refineries, we made quite a lot of investment over the last several years and brought in a lot of technologies, but we’ve been challenged.
“Some of those technologies have not worked as we expected so far. But also, as you know, when you’re refining a very old refinery that has been abandoned for some time, what we’re finding is that it’s becoming a little bit more complicated,” he said.
Ojulari took over from Kyari in April after President Bola Tinubu relieved the former NNPC boss of his appointment. Kyari spearheaded the turnaround maintenance of the facilities, with assurances that they would be revamped.
While addressing members of the Global CEO Africa from the Lagos Business School at his Lekki refinery on Thursday, Dangote expressed pessimism over the functionality of the refineries. He doubted the possibility of the state-owned refineries working again.
Dangote said the refineries under the management of the Nigerian National Petroleum Company Limited had gulped up to $18bn, yet they have refused to work.
According to Dangote, the 650,000-capacity refinery he built after the government of late Umar Yar’adua aborted his acquisition of the government refineries now has over 50 per cent of its output dedicated to Premium Motor Spirit (petrol), saying that even government refineries committed just 22 per cent of their production to petrol.
Dangote recalled how he and his team had to return the refineries to Yar’adua, a few months after former President Olusegun Obasanjo left office in 2007.
According to him, the former managers of the refinery had told Yar’Adua that Obasanjo sold the facilities below their costs as a parting gift to him and his colleagues.
“The refineries that we bought before, which were owned by Nigeria, were doing about 22 per cent of PMS. We bought the refineries in January 2007. Then we had to return them to the government because there was a change of government. And the managing director at that time convinced Yar’adua that the refineries would work.
Dangote emphasised that the turnaround maintenance of the refineries was like trying to modernise a car built 40 years ago, when technology has advanced.
“(The turnaround maintenance) is like you trying to modernise a car that was built 40 years ago, when technology and everything have changed. Even if you change the engine, the body will not be able to take the shock of that new technology engine,” he stated. Dangote’s comment buttressed Obasanjo’s comments last year about the refineries, two of which were shut down again after they were declared operational by the former NNPC Group Managing Director, Mele Kyari, in Q4 2024.
Obasanjo had stated that the NNPC was aware that it could not operate the refineries, saying international oil companies like Shell once refused to run the facilities when he requested them to do so.
According to Obasanjo, some Nigerians, including Aliko Dangote, once paid $750m to take over the refineries; however, his successor, Yar’adua, aborted the deal.
“I ran to him (Yar’Adua), I said, ‘You know this is not right’. He said, ‘Well, NNPC said they can do it.’ I said, ‘NNPC cannot do it,’ I told my successor that ‘the refineries, from what I heard and know, will not work and when you want to sell them, you will not get anybody to buy them at $200m as scrap’. And that is the situation we are in.
“So, why do we do this kind of thing to ourselves? NNPC knew that they could not do it, but they knew they could eat and carry on with the corruption that was going on in NNPC. When people were there to do it, they put pressure. In a civilised society, those people should be in jail,” Obasanjo had stated.
Again, in January, Obasanjo said, “I was told not too long ago that since that time, more than $2bn have been squandered on the refineries 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 (the refinery) is working, why are they now with Aliko (Dangote)? And Aliko will make his refinery work; not only make it work, he will make it deliver.”
Obasanjo concluded with a Yoruba proverb, comparing inflated claims about the refineries’ performance to a farmer who planted 100 heaps of yam but falsely claimed to have planted 200.
“They say that after he has harvested 100 heaps of yams, he will also have 100 heaps of lies. You know what that means,” he said.
Calls for the privatisation of the government-owned refineries, under the management of NNPC, intensified following the recent shutdown of the 60,000 barrels-per-day old Port Harcourt refinery, six months after it was declared operational.
The Warri refinery was also shut down one month after the former Group Chief Executive Officer of the NNPC, Mele Kyari, declared it open in December. The Manufacturers Association of Nigeria said the refineries were a drain on the country’s economy, calling on the Federal Government to sell off the facilities.
Crude refiners also advised the government to sell the refineries as scrap and use the proceeds to fund modular refineries, saying the facilities were a burden and liability to the government.
For Squadron Leader Ahamefule Aham Man-Ugwueje, Monday was supposed to be another routine day of duty. Instead, the Nigerian Air Force pilot lost his life in the crash of an ATR-42 aircraft in Igbokoda, Ondo State, barely 16 days after his wedding.
Man-Ugwueje had married Flight Lieutenant Damilola Adekunle on September 19, 2026, in an elaborate ceremony in Abuja.
The couple exchanged vows at the Redeemed Christian Church of God, The Masters Place, Utako, Abuja, before proceeding to the Nigerian Army Conference Centre, Asokoro, for the reception.
Details of the wedding were contained in the couple’s invitation and posts shared by vendors who participated in the ceremony. A videographer, Beejay Creates, also shared footage from the event, identifying the couple as bride Damilola and groom Ahamefule.
Man-Ugwueje, who was identified by the Nigerian Air Force as the co-pilot of the ill-fated aircraft, was among the five crew members and 20 passengers who died in the crash.
The aircraft, NAF 931, was on a routine mission from Benin to Lagos when it crashed in a swampy area around Igbokoda in Ilaje Local Government Area of Ondo State.
The Nigerian Air Force on Tuesday confirmed that all 25 people on board died in the accident and released the names of the victims.
The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, described the incident as a deeply painful moment for the Nigerian Air Force and the nation, while commiserating with the families, friends and colleagues of the victims.
The Air Force also ordered a comprehensive investigation into the circumstances surrounding the crash.
Man-Ugwueje, whose Facebook profile listed Umuahia, Abia State, as his hometown and Abuja as his current city, was the son of retired Group Captain Man-Ugwueje.
Meanwhile, Ondo State Governor, Lucky Aiyedatiwa, said no survivor was found after security agencies, emergency responders and local residents joined the search for victims at the crash site.
Aiyedatiwa said he was informed of the crash at about 10:30am on Monday after receiving a call from the chairman of Ilaje Local Government Area.
According to the governor, residents across the river from the Nigerian Navy base in Igbokoda heard a loud sound and subsequently saw the aircraft plunge into the swamp.
He said Navy personnel initially exercised caution while trying to determine whether there was a fire or explosion before moving towards the crash site.
“When they noticed that it’s just an accident, they didn’t see any sign of fire. So they moved in, trying to see if they could rescue the people,” the governor said.
Personnel of the local emergency management agency, residents and members of the Amotekun Corps later joined the rescue operation.
However, the search ended in tragedy after authorities confirmed that there were no survivors.
A Nigerian Air Force ATR-42 aircraft on a routine flight from Benin City to Lagos crashed into a swamp in Igbokoda, Ilaje Local Government Area of Ondo State, on Monday after reportedly disappearing from radar shortly after take-off.
The aircraft, with tail number NGR 931, lost communication with air traffic controllers at about 9:13am. A senior air traffic controller, who spoke anonymously, said repeated attempts to re-establish contact with the aircraft failed.
According to the source, personnel around Okitipupa later reported hearing a loud bang suspected to have come from the crash site.
The Minister of Aviation and Aerospace Development, Festus Keyamo, confirmed that the aircraft had disappeared from radar and that all efforts to raise it on radio were unsuccessful.
He later announced that the wreckage had been located near the Naval Base in Igbokoda.
Keyamo said 32 people—25 passengers and seven crew members—were on board.
The Nigerian Air Force confirmed the crash, saying the aircraft was on a routine mission from Benin to Lagos and that search-and-rescue operations had commenced in coordination with relevant authorities.
The crash site, located in a swampy creek, proved difficult to access, with military personnel, emergency responders and local fishermen joining the rescue operation.
Governor Lucky Aiyedatiwa said no survivor had been found as of Monday evening, although the authorities had yet to officially announce a death toll.
The governor said rescuers recovered parts of the aircraft, identification cards and military uniforms from the site.
President Bola Tinubu expressed sadness over the incident and directed the Nigerian Air Force to immediately commence a thorough investigation into the cause of the crash.
Investigators are expected to examine the wreckage, flight path, weather conditions, maintenance records and air traffic control communications. Efforts were also being made to recover the aircraft’s flight recorder, which could provide crucial information about its final moments.
The cause of the crash remains unknown.
Ondo State Governor, Lucky Aiyedatiwa, has disclosed that no survivor has so far been found following the crash of a Nigerian Air Force aircraft in Igbokoda, Ilaje Local Government Area of the state.
Aiyedatiwa made this known during an interview with Channels Television on Monday, saying local residents, security personnel and emergency responders had searched the crash site without finding anyone alive.
The governor said he received information about the incident at about 10:30am after the chairman of the local government contacted him.
According to him, residents living across the river from the Nigerian Navy base in Igbokoda heard a loud sound and subsequently saw the aircraft plunge into a swampy area.
He explained that personnel of the Nigerian Navy initially stayed back to determine whether the crash had triggered a fire or explosion before proceeding to the site.
“When they noticed that it’s just an accident, they didn’t see any sign of fire. So they moved in, trying to see if they could rescue the people,” Aiyedatiwa said.
He added that officials of the state emergency management agency, local residents and personnel of the Amotekun Corps later joined the search and rescue operation.
“But from the information we got, no single life was saved up to this moment. They could not see any living soul that was in that aircraft,” the governor said.
Aiyedatiwa said searchers recovered parts of the aircraft, including pieces of the wings, identification cards and military uniforms, which helped establish that the aircraft was a military plane.
“But they saw the ruins, some of the wreckage from the wings of the aircraft, you know, some ID cards, I was told, and then uniform. That was when they knew it was a military aircraft,” he said.
The governor described the incident as a painful development, noting that the crash occurred not only in Ondo State but also in his home local government area.
“So it’s a sad situation today. And we’re all really, really agreed as a Nigerian. And also it happens in my own state, not just my state, even in my own local government where I’m from,” he said.
Aiyedatiwa expressed sympathy for the military personnel involved, describing them as officers assigned to protect the territorial integrity of Nigeria.
The Nigerian Air Force had earlier confirmed that an ATR-42 aircraft with tail number NGR 931 crashed in Igbokoda while on a routine mission from Benin, Edo State, to Lagos.
Minister of Aviation and Aerospace Development, Festus Keyamo, said preliminary information indicated that 25 passengers and seven crew members were on board the aircraft.
The Nigerian Air Force said search and rescue operations were ongoing following the crash.
“If You Have Evidence Against Stanley Mbam, Charge Him; Otherwise, Release Him” — Oganiru Izzi
A socio-cultural organisation of Izzi extraction, Oganiru Izzi, has challenged Ebonyi State Governor, Chief Francis Ogbonna Nwifuru, to either release the state’s sacked Commissioner for Works, Mr Stanley Mbam, or charge him before a competent court if the government has credible evidence of wrongdoing against him.
The group said the continued detention of the former commissioner without a formal charge raises concerns about due process, constitutional rights and the rule of law.
The leader of Oganiru Izzi, Mr Godwin Mbam, made the demand while speaking with correspondents of National Issue Newspapers at the Crack Department of the Ebonyi State Police Command in Abakaliki.
Mbam condemned what he described as the prolonged detention of Stanley Mbam without allowing a court to determine whether he had committed any offence.
He challenged the state government to produce evidence if it believes the former commissioner committed a criminal offence.
“If there is credible evidence against him, charge him to court and let the court decide. If there is no case against him, he should be released,” Mbam said.
He also appealed to the Ebonyi State Police Command to uphold the Constitution and resist any pressure that could result in unlawful detention.
Vanco Flyover: “We Will Reveal the Full Details”
Mbam also issued a three-day challenge to Governor Nwifuru, declaring that if the former commissioner was not released or charged to court, his organisation would make public what it described as the “full details” of the Vanco Flyover project.
According to him, the proposed disclosure would address issues surrounding the project, including its funding, payments, contractual arrangements and other financial details.
“We will let the world know the full details of the Vanco Flyover and how the funds were utilised,” he warned.
He further challenged the state government to demonstrate transparency by making relevant documents concerning the project available to the public.
“What About the Alleged ₦1.5 Billion Forfeiture?”
The Izzi group also questioned what it described as the selective application of the state government’s anti-corruption campaign.
Mbam referred to allegations involving an account reportedly frozen by the Economic and Financial Crimes Commission (EFCC) and an alleged ₦1.5 billion forfeiture to the Federal Government.
He questioned why, according to him, the governor had allegedly not taken similar action if the facts surrounding the matter warranted it.
Mbam stressed that he was not opposed to the fight against corruption but insisted that any anti-corruption campaign must be comprehensive, transparent and applied equally.
“If Governor Nwifuru wants to fight corruption, let him fight it holistically. Nobody should be targeted while other serious allegations are ignored,” he said.
“If Nwifuru Says He Knows Nothing, We Will Produce the Facts”
Mbam further challenged Governor Nwifuru to publicly state whether he was aware of alleged corruption issues within the Ministry of Works.
“If Nwifuru publicly claims that he is unaware of corruption in the Works Ministry, I will make public the facts available to me. The facts will shock the state,” he declared.
He insisted that the matter should not degenerate into a political vendetta, arguing that the appropriate place to determine criminal liability is a court of law.
According to him, the people of Ebonyi State deserve clear answers concerning the Vanco Flyover and other issues involving public funds.
“Everybody Should Be Subject to the Law”
The Oganiru Izzi leader maintained that the controversy should be resolved through transparency, documentary evidence and due process.
“If there is a case, charge him. If there is no case, release him. The government cannot claim to be fighting corruption while abandoning the principles of justice and the rule of law,” he said.
Mbam warned that failure to address the issues could compel the organisation to make further disclosures concerning the Vanco Flyover and other matters it considers to be in the public interest.
By Our Correspondent
As Nigeria celebrates its 66th Independence Anniversary, the candidate for the House of Representatives seat representing the Ezza South/Ikwo Federal Constituency, Hon. Chief Kevin Tobias Chukwu, has called on Nigerians to remain hopeful and committed to building a better country.
Chukwu, also known as Ochiri Ozua 1 of Amagu Ikwo, made the call in an Independence Day message to Nigerians, particularly the people of Ezza South/Ikwo Federal Constituency and Ebonyi State.
He described the anniversary as not only a moment for celebration but also an opportunity to reflect on the state of the nation and the responsibilities of leaders in building a Nigeria that meets the aspirations of its citizens.
According to him, Nigeria’s journey since independence has been marked by significant challenges, with millions of citizens currently facing economic hardship, while young people continue to search for opportunities and many communities contend with insecurity and uncertainty.
Despite these challenges, the Ebonyi politician said the resilience of Nigerians remained a source of hope for the country’s future.
“I believe in the resilience of our people. I believe in the ingenuity of our youths, the strength of our women, the wisdom of our elders and the determination of ordinary Nigerians who wake up every morning and refuse to give up on this country,” he said.
Chukwu, however, stressed that hope must be matched by responsible leadership, arguing that public office should be viewed as a responsibility rather than a privilege.
He called for leadership that prioritises the protection of lives, creation of economic opportunities, provision of infrastructure, strengthening of institutions and responsible management of national resources.
The candidate also emphasised the need to create an environment where young Nigerians can pursue successful lives within the country and where hard work, merit and enterprise are rewarded.
He said Nigeria had “come too far to surrender to hopelessness,” urging citizens and leaders alike to remain committed to the country’s progress.
“A better Nigeria is still possible, but it will require responsible leadership, accountable institutions and citizens who refuse to give up on their country,” he said.
Chukwu concluded by expressing optimism about Nigeria’s future, declaring: “Nigeria will rise. Nigeria must rise. And together, we must build the Nigeria we deserve.”
He also paid tribute to the nation’s past heroes, praying that their sacrifices would continue to inspire the country.
“May the labour of our heroes past never be in vain,” he said, as he wished Nigerians a happy 66th Independence Anniversary.
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