The African Democratic Congress (ADC) has warned the federal government not to sell the country’s state-owned refineries unless it first explains how billions of dollars meant for fixing them were spent.
The party said selling the refineries now, after so much money has been used for repairs, would be a “massive economic betrayal” and called for a full, independent audit to check where the money really went.
The ADC, in a statement, wondered why the federal government is selling off the refineries it claims to have repaired.
The ADC said about $18 billion (over ₦27 trillion) has been spent on the repairs of the refineries, including $2.8 billion expended recently under President Tinubu’s administration.
ADC National Publicity Secretary, Mallam Bolaji Abdullahi, knocked the Presidency for its lack of transparency and accountability in the bid to sell the refineries.
He said that while the federal government claimed a few months ago that the Port Harcourt and Warri refineries were working again (partially), it is now turning around to sell them without explaining what happened to all the money spent.
“How can you spend that much money fixing something, only to sell it off immediately? What exactly are you selling? Who is buying it? What was the point of the rehabilitation?” the ADC said.
The ADC said it fears the planned sale could lead to corruption, where the refineries are sold at cheap prices to close allies or government insiders.
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The party is demanding a complete investigation and audit, including financial, technical, and structural checks before any sale happens.
They believe it’s the only way to avoid cheating the Nigerian people.
“This isn’t just about bad decisions. This could be outright theft. People in other countries go to jail for things like this,” the ADC said.
The ADC also referred to comments by Alhaji Aliko Dangote, Africa’s richest man, who once said he doubted if Nigeria’s old refineries could still work.
The ADC wants the Tinubu government to pause the sale, tell Nigerians what happened to the billions spent on repairs, and allow an independent group to audit everything.
