By Jumoke Adelabu
Former Vice President Atiku Abubakar has called on the Federal Government to suspend the newly announced partnership between the Nigerian National Petroleum Company Limited (NNPCL) and two Chinese firms for the rehabilitation of the Port Harcourt and Warri refineries.
Atiku, in a statement issued through his media aide, Phrank Shaibu, described the agreement as a risky move involving strategic national assets that have already consumed billions of dollars without yielding tangible results.
The former presidential candidate questioned NNPCL’s decision to enter into what it termed a “Technical Equity Partnership” with Sanjiang Chemical Company Limited and Xingcheng Industrial Park Operation and Management Company. He argued that neither firm has a verifiable track record in managing large-scale crude oil refineries.
According to Atiku, Nigerians should not continue to witness the government commit critical energy infrastructure to companies whose experience does not align with the technical demands of rehabilitating ageing refineries such as Port Harcourt and Warri.
Alhaji Atiku Abubakar
He noted that Sanjiang Chemical is largely associated with petrochemical and chemical processing operations, rather than refinery rehabilitation, while Xingcheng, he claimed, lacks evidence of experience in refinery engineering or hydrocarbon processing based on available industry records.
Atiku further expressed concern that the deal was announced despite reports that more than $2.5 billion has already been spent on refinery rehabilitation over the years with little to show for it. He warned that the country may be heading into another round of costly agreements without accountability or measurable outcomes.
He also accused the Tinubu administration of failing to provide sufficient transparency on the partnership, insisting that the government should have explored collaboration with globally recognised refinery engineering firms with proven expertise in refinery construction, operations, and rehabilitation.
The former Vice President also alleged that financial reports linked to one of the Chinese firms suggest declining revenues and rising debt pressures, raising doubts about the company’s capacity to handle a project of such national importance.
Atiku maintained that Nigerians deserve full disclosure of the agreement’s terms, stressing that the Port Harcourt and Warri refineries remain too strategic to be handled through what he described as unclear and poorly scrutinised arrangements.
