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Home Economy/Technology

ADC’s claim on refinery sale, horrendous half truth

Refineries

The Matters Press by The Matters Press
July 23, 2025
Reading Time: 3 mins read
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Nigerian firms to handle $4b gas project

Oil Refinery

‎The Tinubu Media Support Group (TMSG) has described as horrendous and terrible a false narrative promoted by the African Democratic Congress (ADC) media office over plans to sell the federal government’s existing refineries.

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The group accused ADC of employing half-truths and false narratives as a strategy to demarket the President Bola Tinubu administration.
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‎This, according to the group, follows recent assertions by the ADC spokesman, Bolaji Abdullahi, that the Tinubu administration had concluded plans to sell the refineries after spending $2.8bn on them.
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‎In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG maintained that the claims were false, untrue, and misleading.
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‎It read in part, “We are alarmed that the newest collection of failed opposition politicians has opted for misinformation and falsehood as a strategy to hoodwink unsuspecting Nigerians, the same way they failed in governance before.
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‎”This is obvious from a recent statement issued by its spokesman Bolaji Abdullahi in response to an interview by the Group CEO of the Nigerian National Petroleum Corporation Limited (NNPCL),  Bayo Ojulari, on sundry issues including the state of state-owned refineries
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‎”We were taken aback that a journalist of Bolaji Abdullahi’s hue described it as a ‘confirmation by the Tinubu administration and the leadership of Nigerian National Petroleum Company Limited (NNPCL) that the federal government was proceeding with the full privatisation of Nigeria’s state-owned refineries.’
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‎”He even went ahead to attempt to revise and twist recent history by asserting that the Tinubu administration ‘spent over $2.8 billion on the refineries before declaring that they were moribund.’
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‎”This is not only factually untrue but is also a blatant display of dishonesty and petty politicking rooted in outright lies in the public space. It seems they will not stop their nefarious activities, which have become their trademark.
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‎”For the avoidance of doubt, what NNPCL’s Bashir Ojulari said recently on the sidelines of the 9th OPEC international seminar in Vienna, Austria ‎was that NNPCL is now ‘conducting a comprehensive review of its refinery rehabilitation strategy and that conclusions from the exercise could prompt a change in approach’.
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‎”He added that, ‘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’.
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‎”And when asked whether the review could result in selling the refineries, Ojulari simply said, ‘a sale remains a possibility’ so there was no definitive answer to warrant ADC’s spokesman jumping into that conclusion.
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‎”As someone who has had some experience in government, we expect Abdullahi to know that no government decision is taken on a whim, not even for something with huge economic implications as refineries, except maybe that was how tardy he operated as a minister in the cabinet of former President Goodluck Jonathan.
‎
‎”What the NNPCL helmsman said was clear, that the new management, which most Nigerians agree is filled with industry experts, is carrying out a review of refinery rehabilitation strategy after what could be said to be an unsatisfactory revamp of the Port Harcourt and Warri refineries. He was not even certain of what the management would do after the review when he added that all ‘options were on the table’ until after the process.
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‎”We wonder how a supposedly decorated journalist would interpret this to mean that plans have been finalised to sell the refineries without any form of audit.
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‎”Also, it is shocking that the ADC spokesman pointedly accused the Tinubu administration of spending over $2.8bn on the refineries when it is public knowledge that approvals for the overhaul of the Port Harcourt and Warri refineries were done in March and August 2021 respectively, about two years before President Tinubu assumed office.
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‎”Besides, it is a matter of public record that the Economic and Financial Crimes Commission (EFCC) has been digging into the issue and had only recently quizzed some former NNPCL management staff on funds appropriated for refinery rehabilitation.”
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‎”While we are not averse to a full audit of funds spent on rehabilitation of the refineries since the Olusegun Obasanjo era if possible, we believe that opposition elements, especially those who had been in government, should embrace sincerity if they want Nigerians to see them in a different light.”
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‎The group urged Nigerians to be wary of attempts by opposition figures to spread half-truths under the guise of holding the government to account.
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‎End.

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