By JOAN NWAGWU

The Nigeria Employers’ Consultative Association (NECA) has questioned the new refinery agreement between the Nigerian National Petroleum Company Limited (NNPCL) and Chinese firms, demanding transparency and accountability.

NECA Director-General, Adewale-Smatt Oyerinde, said this in a statement issued on Sunday in Abuja while reacting to the Memorandum of Understanding (MoU) signed on May 4 for refinery rehabilitation and expansion projects.

The statement is titled: “Enough of MoU Governance and Failed Revamps on Port Harcourt and Other Refineries.”

He said Nigeria could not afford another failed refinery rehabilitation after spending about $25 billion on turnaround maintenance projects with little measurable results.

According to him, repeated rehabilitation cycles at the Port Harcourt refinery had failed to deliver sustainable refining output in spite of huge public investments over the years.

“It will be unpatriotic to endorse another opaque refinery deal while questions surrounding past spending and failed rehabilitation projects remain unresolved.

“Nigeria cannot continue spending billions of dollars on refinery turnaround maintenance without sustainable refining output or measurable economic value.

“NNPCL must rebuild public trust through transparency, accountability and a clear business model capable of ending repeated refinery rehabilitation failures,” he said.

According to Oyerinde, Nigerians deserve clear explanations on previous spending, audit outcomes and safeguards against delays, cost overruns and repeated operational failures.

He urged NNPCL to disclose details of the proposed technical partnerships, local content plans and technology transfer arrangements under the agreement.

Oyerinde said businesses had suffered decades of energy insecurity through rising production costs, fuel import dependence and job losses linked to dysfunctional refineries.

The NECA boss reiterated calls for privatisation or concession of the refineries, insisting governance reforms must precede further rehabilitation projects.

He said the association supported refinery revamp efforts only under transparent, accountable and commercially sustainable arrangements capable of restoring public confidence. (NAN)

Update news