NNPC invites Obasanjo to inspect rehabilitated refineries amid $2bn investment skepticism

The Nigerian National Petroleum Company Limited (NNPC) has extended an invitation to former President Olusegun Obasanjo to tour its rehabilitated refineries in response to his recent public doubts about the viability of the $2 billion spent on the facilities.

Obasanjo, in a recent television interview, expressed skepticism about the progress of work at the Port Harcourt and Warri refineries. He referenced the persistent challenges his administration encountered while attempting to revamp Nigeria’s refining capacity.

“I was told not too long ago that since that time, more than two billion dollars have been squandered on the refinery, and they still will not work. If anyone tells you now that it is working, why are they still with Aliko? Aliko will not only make his refinery work but also make it deliver,” Obasanjo said.

In response, NNPC’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, acknowledged the former president’s stature and contributions but highlighted the company’s recent transformation.

“We hold President Olusegun Obasanjo in the highest regard as a statesman who has significantly contributed to Nigeria’s development. His observations are deeply respected. However, we wish to emphasize that NNPC has undergone a remarkable transformation,” Soneye stated.

He explained that the company has shifted from a loss-making entity to a profit-oriented global energy leader. He also described the refinery rehabilitations as comprehensive overhauls designed to meet world-class standards, distinguishing them from the less impactful Turnaround Maintenance of the past.

Soneye credited the achievements to the leadership of the NNPC board, led by Group CEO Mele Kyari, and President Bola Ahmed Tinubu’s transformative energy policies.

Soneye invited Obasanjo to assess the progress firsthand.

“We warmly invite President Obasanjo to tour the rehabilitated refineries. His wisdom and experience are invaluable, and we deeply appreciate his guidance. This visit will offer an opportunity to witness the progress we have achieved under NNPC Limited’s leadership,” he said.