The Nigerian National Petroleum Company Limited (NNPCL) has responded to recent remarks made by former President Olusegun Obasanjo regarding the management of the country's refineries. Obasanjo had criticized NNPCL's capacity to efficiently operate the refineries, highlighting failed attempts to privatize the facilities and alleged financial losses of approximately $2 billion under government control.

In a recent interview, Obasanjo spoke about the efforts made during his tenure to address challenges at Nigeria's refineries, including Port Harcourt, Warri, and Kaduna. He revealed that he approached Shell to manage the refineries, offering equity and operational roles, but the company declined. Obasanjo also shared that Africa's richest man, Aliko Dangote, assembled a team and paid $750 million to operate the refineries through a public-private partnership.

However, Obasanjo claimed that his successor refunded the money, and the government took over the refineries, which he believed could not be efficiently operated by the state-owned company. NNPCL spokesperson, Femi Soneye, has now invited former President Obasanjo to visit the Port Harcourt refinery for a firsthand tour to verify its operational status.

Soneye stated that NNPCL not only performed turnaround maintenance on the refinery but also undertook a complete overhaul to bring it up to world-class standards. He added that the company is currently conducting a comprehensive rehabilitation of the old Port Harcourt Refinery and Kaduna Refinery. Soneye further emphasized that NNPCL has transitioned from a government corporation to a private limited liability entity, evolving from a loss-making organization to a profit-driven international energy firm.

According to reports, the Nigerian government has spent billions of dollars over decades on the repair and maintenance of its three refineries. Specifically, $1.5 billion was allocated for the Port Harcourt refinery, $897.6 million for the Warri refinery, and $586.9 million for the Kaduna refinery. Despite these substantial investments, no significant progress has been made, leading to frustration among stakeholders.

The NNPCL's invitation to Obasanjo is seen as an attempt to showcase the progress made in rehabilitating the refineries and to demonstrate the company's capacity to efficiently operate the facilities. The move is also expected to spark a national conversation about the management of Nigeria's oil resources and the role of the private sector in driving growth and development.

As the Nigerian government continues to grapple with the challenges of managing its oil resources, the NNPCL's response to Obasanjo's criticism serves as a reminder of the need for transparency, accountability, and cooperation between the public and private sectors. The outcome of this development will be closely watched, and its implications will have far-reaching consequences for Nigeria's energy sector and the economy as a whole.