Nigeria’s state-owned refineries, with a combined capacity of 445,000 barrels per day, have underperformed for decades despite over ₦11 trillion spent on rehabilitation since 2010. This inefficiency has forced the country to rely heavily on petroleum imports, draining foreign reserves. The Tinubu administration has announced plans to privatize the refineries in Port Harcourt, Warri, and Kaduna. According to Sunday Dare, special adviser to the president, full privatization is underway to enhance local refining and end fuel queues. Alongside privatization, active contributions from the Dangote and modular refineries aim to meet domestic fuel needs. While the government previously pledged to revive the refineries, timelines for operationalization in 2023 and 2024 were missed. The administration remains focused on achieving self-sufficiency in local refining and reducing dependency on fuel imports.
