The Economic and Financial Crimes Commission (EFCC) Uncovers and arrested sacked managing directors of the Port Harcourt, Warri, and Kaduna refineries, for ₦80bn found in their personal accounts during its investigation into a $2.96bn fraud.
NNPCL Executives Under Fire
The probe includes former NNPCL Group CEO Mele Kyari and 13 other top executives, with official documents confirming an active EFCC investigation into widespread fund misappropriation.
False Revamps, Failing Refineries
Despite a high-profile recommissioning in late 2024, Port Harcourt and Warri refineries failed to meet production targets. Port Harcourt operates under 42%, while Warri shut down barely a month after reopening.
Expert Claims and Public Backlash
Energy experts criticised the refineries’ return as “a charade,” exposing a lack of catalytic reform units and crude supply pipelines. Accusations of staged media events have led to demands for a comprehensive probe.
Staff Strike Threatens Restart Plans
Plans to restart Warri’s crude distillation units may collapse as plant support staff prepare for an indefinite strike over poor pay and casualisation.
Marketers Left Idle, Supply Crisis Grows
Independent marketers report zero access to products from the refineries since January, forcing reliance on expensive private depots and exacerbating fuel scarcity.
Systemic Failure, National Concern
Industry stakeholders and unions have condemned the misuse of funds and the government’s misrepresentation, urging immediate reforms, transparent audits, and criminal prosecutions.
The EFCC Uncovers ₦80bn, is not just a scandal that has hit the Nigerian oil and gas sector, but according to some analysts it is an indication that there could be more uncovering to be done.