RismadarVoice Reporters, April 29, 2026
An energy expert, Dr Joseph Obele, has disagreed with former President Olusegun Obasanjo over his recent assertion that Nigeria’s refineries will “never work again,” describing the comment as overly pessimistic and counterproductive.
Obele argued that while Nigeria’s refining sector has faced longstanding challenges, including poor maintenance, corruption, and operational inefficiencies, such issues are not insurmountable.
According to him, they represent structural problems that can be addressed through reforms and strategic investments.
He warned that public statements dismissing the future of the country’s refineries could negatively impact investor confidence, particularly at a time when the Nigerian National Petroleum Company Limited is engaging potential foreign partners for technical collaborations.
“Such remarks are not healthy for the investment climate. They can discourage investors who are already in discussions with the national oil company,” he said.
Obele maintained that reviving Nigeria’s refineries would yield significant economic benefits, including job creation, reduced inflation, increased industrial productivity, and overall national development. He, however, advocated the full privatisation of the country’s four state-owned refineries as a sustainable solution to recurring inefficiencies.
Meanwhile, concerns have also been raised over the leadership of the NNPCL, with stakeholders questioning the pace of progress in reviving government-owned refineries.
The current Group Chief Executive Officer of the company, Bayo Ojulari, was criticised for what some industry observers describe as insufficient commitment towards restoring refinery operations and commencing production.
The development has prompted calls for intervention by President Bola Ahmed Tinubu, with stakeholders urging a review of the leadership and strategic direction of the corporation to ensure alignment with ongoing petroleum sector reforms.
