Segun Ajayi-Kadiri, the Director-General of the Manufacturers Association of Nigeria (MAN), has called on the Federal Government to proceed with the complete privatization of the country’s state-owned refineries.
Ajayi-Kadiri emphasized that handing over the management of the Port Harcourt, Warri, and Kaduna refineries to private sector operators would enhance efficiency and boost productivity in the oil sector. He advocates for a fully privatized approach as a strategic move to address longstanding challenges faced by the refineries.
The federal government initiated efforts in 2024 to revive its four refineries, with partial restoration achieved at the Port Harcourt and Warri plants. Meanwhile, rehabilitation work continues on the second Port Harcourt unit and the Kaduna refinery as part of ongoing efforts to restore operational capacity.
Industry stakeholders and economic experts have expressed varied opinions on the privatization proposal, highlighting its potential to improve Nigeria’s fuel supply chain and reduce dependence on imports. As discussions around the future of Nigeria’s refineries unfold, many see privatization as a critical step toward revitalizing the country’s downstream oil sector.
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