Lagos, July 11, 2025 — Africa’s richest man, Aliko Dangote, has expressed serious doubts about the future viability of Nigeria’s state‑owned refineries, warning that the facilities in Port Harcourt, Warri, and Kaduna may never function despite massive investments.
Speaking on Thursday at the Dangote Petroleum Refinery in Lekki, during a visit by members of the Global CEO Africa group from Lagos Business School, the billionaire industrialist revealed that NNPC Ltd has spent approximately US $18 billion on turnaround maintenance for the three refineries—with no lasting success .
Dangote stressed the contrast between his own refinery—which runs at over 50% petrol production—and the government‑owned refineries, which struggle to allocate even 22% of their output to Premium Motor Spirit (PMS) . He recalled his 2007 bid to acquire the facilities, a deal later cancelled despite assurances they could be revived.
Even if you change the engine in a 40‑year‑old car, the chassis can’t handle the shock of new technology,” Dangote remarked, suggesting that the refineries are too outdated to be restored to functionality .
His critique echoed that of former President Olusegun Obasanjo, who previously said that international oil companies like Shell had declined to operate the refineries, citing corruption and structural decay .
The Port Harcourt and Warri refineries were recently shut down six months after being declared operational following extensive rehabilitation . Meanwhile, the flourishing Dangote refinery, with a 650,000 barrel‑per‑day capacity, continues to outperform its public counterparts.
Dangote’s comments renew calls for privatisation or divestment of the old refineries, with stakeholders urging the government to abandon the costly repairs and channel funds toward modular refinery projects.
