Former Vice President Atiku Abubakar has called on the federal government to immediately suspend a newly announced refinery partnership between the Nigerian National Petroleum Company Limited (NNPC) and two Chinese firms, warning that the deal could lead to another failed refinery rehabilitation effort.
Atiku Questions Technical Capacity of Chinese Firms
In a press statement released to the media, Atiku criticized the agreement, described as a “Technical Equity Partnership” between NNPC Ltd, Sanjiang Chemical Company Limited, and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. The statement, signed by his Senior Special Assistant on Public Communication, Phrank Shaibu, questioned the technical expertise and credibility of both companies in handling large-scale refinery operations like those at Port Harcourt and Warri.
Atiku accused the administration of President Bola Ahmed Tinubu of pursuing another opaque transaction involving strategic national assets. “It is both shocking and insulting that after wasting over $2.5 billion on endless refinery rehabilitation scandals, the NNPC is once again asking Nigerians to trust another experiment built on secrecy and questionable competence,” the statement said.
Sanjiang Chemical's Credibility Under Scrutiny
The former presidential candidate argued that available corporate records do not show evidence that Sanjiang Chemical has managed or operated a refinery comparable to Nigeria’s state-owned facilities. “There is no publicly available evidence anywhere in the world showing that Sanjiang has ever built, operated, or managed a full-scale crude oil refinery of the magnitude and complexity of Port Harcourt or Warri refineries,” Atiku stated. He added that the company’s operations appear to focus mainly on petrochemical products and light hydrocarbon processing rather than crude oil refining.
Concerns Over Second Chinese Firm
Atiku also raised concerns about Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, noting that it lacks any verifiable experience in refinery engineering or petroleum operations. “By every available corporate and industry record, Xingcheng is essentially an industrial park and infrastructure management company,” the statement added. Furthermore, reports suggest that Sanjiang Chemical faces financial pressures despite being listed on the Hong Kong Stock Exchange. Atiku questioned how a company dealing with liquidity concerns could shoulder the burden of reviving Nigeria’s troubled refineries.
Demands for Transparency and Investigation
Atiku called for the immediate release of the full Memorandum of Understanding signed between the parties. He also demanded a detailed technical assessment of the companies involved, public disclosure of Nigeria’s financial obligations under the deal, and a legislative probe into previous refinery rehabilitation spending. “The era where NNPC signs opaque agreements abroad and expects Nigerians to clap blindly is over,” the statement said. He warned that Nigerians would hold public officials accountable for any arrangement capable of endangering the country’s energy security and economic future.
Background on NNPC Refinery Issues
This controversy comes amid ongoing concerns about the state of Nigeria’s refineries. Previously, the Economic and Financial Crimes Commission (EFCC) arraigned two individuals over an alleged N600 million job scam linked to NNPC. Atiku’s latest remarks add to growing political pressure on the Tinubu administration to ensure transparency in the management of national assets.
