Former Vice President Atiku Abubakar has called for the immediate suspension and public review of the recent partnership agreement between the Nigerian National Petroleum Company Limited (NNPC Ltd) and two Chinese firms over the rehabilitation of Nigeria’s refineries.
In a statement released through his media aide, Phrank Shaibu, Atiku criticised the Federal Government’s “Technical Equity Partnership” arrangement involving Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd.
The former presidential candidate accused the administration of President Bola Tinubu of risking Nigeria’s strategic assets through what he described as opaque and questionable agreements lacking proper accountability.
Atiku Questions Competence of Chinese Firms
Atiku argued that independent checks on the two Chinese companies raised concerns about their technical expertise and suitability for handling complex refinery rehabilitation projects like the Port Harcourt and Warri refineries.
According to him, Sanjiang Chemical mainly operates in petrochemical processing and fine chemical manufacturing rather than large-scale crude oil refining.
He claimed there is no publicly available evidence showing the company has ever managed or operated refineries comparable to Nigeria’s state-owned facilities.
The statement also questioned the role of Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, alleging that the company lacks verifiable experience in refinery engineering or petroleum operations.
Atiku compared the arrangement to “handing over a hospital intensive care unit to a real estate developer simply because they understand construction.”
Concerns Over Transparency and Financial Risks
The former Vice President further criticised the Federal Government for allegedly bypassing internationally recognised refinery engineering companies with stronger technical track records.
He warned that the agreement could become another failed refinery rehabilitation project after billions of dollars have already been spent on previous turnaround maintenance programmes with limited results.
Atiku also raised concerns about the financial health of one of the Chinese firms, claiming reports suggest declining revenue and increasing financial pressure.
According to him, this raises questions about the companies’ ability to successfully handle the rehabilitation of Nigeria’s struggling refineries.
Calls for Public Disclosure and Investigation
Atiku demanded:
- Immediate publication of the full Memorandum of Understanding (MoU)
- A transparent technical due diligence report on both firms
- Disclosure of Nigeria’s financial obligations under the agreement
- Open competitive bidding involving globally reputable refinery operators
- Legislative investigation into past refinery rehabilitation spending
He insisted that national assets should not be subjected to secretive arrangements or poorly scrutinised deals.
Why the Refinery Deal Matters
The Port Harcourt and Warri refineries remain critical to Nigeria’s energy sector, with the government repeatedly promising to restore local refining capacity and reduce dependence on fuel imports.
However, concerns over corruption, abandoned projects and repeated delays have continued to generate public criticism over refinery rehabilitation efforts.
The latest partnership with the Chinese firms has now sparked renewed debate over transparency, technical capacity and the future of Nigeria’s oil infrastructure.