President Muhammadu Buhari has spent over $19 billion on refineries in his eight years in office, according to Nasarawa State Governor Abdullahi Sule. This figure is more than the cost of building the Dangote Refinery, Africa’s largest oil refinery.
Despite the huge investment, Nigeria’s refineries remain in a state of disrepair. None of the four refineries in Kaduna, Port Harcourt, and Warri are currently operating at full capacity. As a result, Nigeria is forced to import most of its refined petroleum products, which is a major drain on the country’s foreign reserves.
Why Did Buhari Spend So Much on Refineries?
There are a number of reasons why Buhari spent so much on refineries. First, he inherited a refining sector that was in a state of disrepair. Years of neglect and mismanagement had taken their toll on the refineries, and they were in urgent need of rehabilitation.
Second, Buhari was under pressure from the Nigerian public to fix the refineries. Nigerians were tired of the long queues at petrol stations and the high cost of fuel. Buhari promised to fix the refineries and make Nigeria self-sufficient in refined petroleum products.
Third, Buhari believed that fixing the refineries would be a key driver of economic growth. He argued that a thriving refining sector would create jobs, boost tax revenues, and reduce Nigeria’s reliance on imports.
What Went Wrong?
Despite the huge investment, Buhari’s efforts to revive Nigeria’s refineries have been largely unsuccessful. There are a number of reasons for this.
First, the rehabilitation contracts were awarded to companies that lacked the expertise and experience to carry out the work. As a result, the work was often delayed and shoddy.
Second, there was a lack of transparency and accountability in the procurement process. This led to allegations of corruption and mismanagement.
Third, there was a lack of coordination between the different government agencies involved in the refinery rehabilitation projects. This led to delays and further problems.
What Needs to Be Done?
The Nigerian government needs to take a number of steps to fix its refineries. First, it needs to conduct a thorough audit of the refinery rehabilitation projects to identify and address the problems that have occurred.
Second, the government needs to put in place a transparent and accountable procurement process for any future refinery rehabilitation projects.
Third, the government needs to ensure that the different government agencies involved in refinery rehabilitation projects are working together effectively.
Fourth, the government needs to address the underlying problems that have plagued the refining sector for many years, such as corruption, mismanagement, and a lack of qualified personnel.
President Buhari’s spending on refineries has been a major source of controversy. Some have argued that the money could have been better spent elsewhere, such as on education or healthcare. Others have argued that the investment in refineries was necessary to revive Nigeria’s economy.
Why are Nigeria’s refineries not working?
There are a number of reasons why Nigeria’s refineries are not working. These include years of neglect and mismanagement, corruption, and a lack of qualified personnel.
How much does it cost to fix Nigeria’s refineries?
The cost of fixing Nigeria’s refineries is estimated to be in the billions of dollars.
What is the government doing to fix the refineries?
The government has announced a number of plans to fix the refineries, but these plans have yet to be implemented successfully.
What can Nigerians do to help fix the refineries?
Nigerians can help fix the refineries by holding the government accountable for its promises and by supporting efforts to reform the refining sector.