The shutdown of the Port Harcourt Refinery has now entered second month, and frustration continues to grow among Nigerians as the Economic and Financial Crimes Commission (EFCC) digs deeper into an alleged $7.2 billion fraud tied to refinery rehabilitation.
This development comes just one day after EFCC operatives arrested Umar Ajiya Isa, former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), over alleged diversion and mismanagement of funds meant for the turnaround maintenance (TAM) of the Port Harcourt, Warri, and Kaduna refineries.
Two Months, No Fuel, No Statement
The Port Harcourt Refining Company, which was officially declared operational in November 2024, has not produced a drop of fuel since it was shut down for maintenance in May 2025. Initially expected to resume in 30 days, the facility remains locked, with no explanation from NNPCL. Efforts to reach NNPCL for comment yielded no results.
Marketers say the shutdown lingers because repairs are still ongoing. But as the silence stretches, public confidence in the state-owned refinery continues to erode.
Arrests, Investigations, and Big Numbers
The EFCC is currently investigating how a total of $2.95 billion was disbursed across the refineries without meaningful output:
- Port Harcourt Refinery: $1.55 billion
- Kaduna Refinery: $740.6 million
- Warri Refinery: $656.9 million
Umar Isa, who was CFO during the fund releases, is now in EFCC custody. Also arrested is Jimoh Olasunkanmi, a former MD of Warri Refinery. Other former and current refinery executives, including Tunde Bakare, Ahmed Adamu Dikko, and Ibrahim Onoja, are under probe.
According to sources, EFCC traced ₦80 billion to private accounts linked to at least one sacked refinery MD.
Refineries Declared “Working” But Not Functional
Port Harcourt’s refinery was hailed as “partially functional” in November 2024, with expectations that it would produce 1.5 million litres of diesel and 2.1 million litres of low-pour fuel oil daily. But by January 2025, operations had stalled again.
Warri refinery, declared reopened in December, shut down just weeks later. Kaduna has yet to show significant output, despite heavy funding.
Marketers Protest Diesel Price Hike
Adding to the confusion, independent marketers in Port Harcourt protested on Tuesday over abrupt increases in diesel prices from ₦930 to ₦1,130 per litre in one week. They accused NNPCL and Oando of dishonouring earlier payment agreements.
“We paid at ₦980, and now they want us to top up to ₦1,130. This is not acceptable,” a marketer said, demanding either immediate loading or a refund.
Public Anger, Renewed Calls for Privatisation
Angry Nigerians have taken to X (formerly Twitter), calling the situation a national disgrace. One user posted, “$7.2bn down the drain, and the refineries are still dry. This is sabotage.”
Amid the scandal, voices from the organised private sector are once again calling for the full privatisation of Nigeria’s refineries, arguing that NNPCL has failed to deliver despite repeated promises and billions in public funds.
The Bigger Picture
This refinery scandal and the ongoing shutdowns underline a much deeper problem in Nigeria’s energy system lack of transparency, accountability, and operational discipline. While the EFCC vows to leave no stone unturned, the country continues to import refined fuel at high prices, with petrol now selling for ₦955 per litre in some cities.
As the investigation deepens, Nigerians are left asking one question: “Where is the money, and when will our refineries actually work?”