Civil Society Calls For Probe Into $1.5bn Port Harcourt Refinery
A coalition of civil society organisations has demanded an investigation into the $1.5 billion Port Harcourt refinery rehabilitation project under the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari.
At a press conference in Abuja on Wednesday, the coalition, operating under the banner of Situation Room on Transparency and Accountability, alleged large-scale fiscal mismanagement and lamented that the refinery remains non-functional despite the massive investment.
The coalition’s convener, Mr. Michael Omoba, said, “Nigerians were made to believe that the funds allocated by the Muhammadu Buhari-led administration in 2021 were meant for the comprehensive rehabilitation of two refineries. But what happened? The entire fund was diverted and spent on only the Port Harcourt refinery.”
He questioned why the original plan to rehabilitate two refineries was abandoned without explanation, describing it as a “national capture of our resources.”
Omoba said, “The said refinery turned out to be non-functional, failing to meet the least functional or industrial standard that was expected of such an investment. Indeed, such fiscal mismanagement would have been the subject of a rigorous criminal investigation involving every national and international party.”
The group accused Kyari’s administration of lacking transparency and accountability, and stated that such economic missteps have significantly hindered Nigeria’s growth.
Omoba stated, “The gross mismanagement of funds in the oil and gas sector over the past five years has stifled our economic and infrastructural development, impoverished citizens who have faithfully paid taxes, and sabotaged sustainability.
“These actions have discouraged legitimate investment and encouraged speculative capital rather than stable foreign direct investment (FDI),” describing the situation as an “elite syndicate conspiracy against the citizens.”
“This NNPCL revelation is a betrayal of the Nigerian dream, and this economic haemorrhaging must stop. In addition to the many atrocious adventures of Kyari’s leadership, the suspension of the Naira-for-crude policy under his tenure was a monumental disservice and disability to our local economy,” he added.
The coalition demanded the immediate constitution of a Special Commission of Inquiry to probe all financial activities of NNPCL under Kyari’s leadership in the past five years.
Omoba also called for a forensic audit of the company’s transactions and prosecution of all individuals found culpable.
In addition, the group urged the National Assembly to conduct a legislative hearing to ensure the newly-appointed NNPCL board operates with the highest standards of transparency and accountability.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
