The Economic and Financial Crimes Commission (EFCC) has arrested former Managing Directors (MDs) and top officials of the Port Harcourt, Warri, and Kaduna refineries over the alleged misappropriation of $2.96 billion earmarked for their rehabilitation. The funds under scrutiny include $1.56 billion for Port Harcourt, $741 million for Kaduna, and $657 million for Warri. Shockingly, N80 billion was reportedly found in the personal accounts of one of the sacked MDs.
The probe also extends to the immediate past Group CEO of NNPCL, Mele Kyari, and 13 other senior executives. Despite official claims that the refineries had resumed operations, investigative reports revealed that both the Port Harcourt and Warri refineries have failed to produce petroleum products effectively. The Warri refinery shut down a month after its relaunch, and the Port Harcourt facility operates at less than 40% capacity.
Sector experts and industry stakeholders have slammed the NNPCL for misleading the public, citing lack of transparency, outdated infrastructure, and the impracticality of current refinery models. Worker unrest looms, with Warri support staff threatening a strike over poor working conditions. Calls for comprehensive investigations and accountability continue to mount as the scandal deepens public distrust in Nigeria’s oil sector.
