Former Vice President of Nigeria, Atiku Abubakar, has called for the immediate suspension and comprehensive public review of a refinery rehabilitation agreement involving the Nigerian National Petroleum Company Limited (NNPC) and two Chinese firms, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Company.
Atiku, in a statement released through his media aide, Phrank Shaibu, expressed strong reservations about the “Technical Equity Partnership” arrangement recently announced by the NNPC. He accused the administration of President Bola Ahmed Tinubu of handling the country’s critical energy assets in a manner he described as lacking transparency, technical clarity, and accountability.
According to him, the deal raises serious questions about due process and national interest, particularly at a time when Nigeria continues to struggle with the rehabilitation and effective operation of its major refineries in Port Harcourt and Warri.
The former Vice President described the agreement as another high-risk attempt at refinery rehabilitation, warning that previous efforts in the sector have already consumed billions of dollars without delivering sustainable results. He argued that the latest arrangement appears to repeat past mistakes by relying on partnerships that are not backed by clear technical justification or proven operational capacity.
Atiku further questioned the selection of the two Chinese companies involved in the agreement. He noted that while Sanjiang Chemical Company Limited is active in the petrochemical industry, its operations are largely focused on downstream chemical manufacturing, including industrial chemical production and hydrocarbon processing derivatives. He argued that these activities are significantly different from the complex requirements of managing and operating large-scale crude oil refineries.
He stressed that there is limited publicly available evidence showing that the company has previously undertaken full refinery construction, rehabilitation, or operational management of facilities comparable to Nigeria’s aging refineries. This, he said, raises doubts about its suitability for such a sensitive national assignment.
Atiku also raised concerns about Xingcheng (Fuzhou) Industrial Park Operation and Management Company, describing it as an infrastructure and industrial park management firm with no verifiable track record in petroleum refining or hydrocarbon processing. He questioned why such a company would be considered for a role that demands advanced engineering expertise and extensive refinery operational experience.
The former Vice President further criticised what he described as the bypassing of globally recognised engineering, procurement, and construction companies with established refinery expertise. He argued that international firms with proven records in refinery rehabilitation were not engaged, despite Nigeria’s history of failed turnaround maintenance projects.
He warned that the current arrangement could expose Nigeria to further financial losses and operational setbacks if not properly reviewed. According to him, the country’s refineries remain strategic national assets that require transparent procurement processes and highly qualified technical partners.
Atiku also drew attention to concerns surrounding the financial stability of one of the firms, alleging that available corporate records indicate declining revenue performance and increasing financial pressure. He questioned how such a company would be capable of managing the capital-intensive demands of rehabilitating and operating Nigeria’s complex refinery infrastructure.
He described the entire arrangement as opaque and potentially damaging to national economic interests, warning that it reflects a broader pattern of poorly scrutinised agreements in the public sector. He urged the government to avoid repeating past mistakes that have resulted in wasted resources and prolonged refinery inactivity.
As part of his demands, Atiku called for the immediate publication of the full terms of the Memorandum of Understanding between NNPC and the Chinese firms. He also requested an independent technical review of the companies involved, as well as full disclosure of Nigeria’s financial commitments, obligations, and risk exposure under the agreement.
He further advocated for an open and competitive selection process involving globally reputable refinery operators, as well as a comprehensive legislative investigation into previous refinery rehabilitation expenditures.
Atiku concluded by warning that Nigeria’s energy security and economic stability could be jeopardised if critical national assets continue to be managed through what he described as opaque and unverified partnerships. He stressed that transparency and competence must guide all future decisions involving the country’s refinery infrastructure.
