The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has called on the Federal Government to sell off Nigeria’s ailing refineries in Port Harcourt, Warri, and Kaduna, describing them as unproductive and financially draining.
Speaking during a press briefing in Lagos, Ajayi-Kadir decried the continued investment of public funds into the turnaround maintenance of the refineries, which, according to him, have failed to deliver value to Nigerians for several years.
“These refineries have become a liability. Billions have been expended without any output. This trend cannot continue. The government should consider transferring ownership to private investors with the capacity and expertise to revive them,” he stated.
The MAN boss noted that Nigeria’s dependence on imported refined petroleum products remains a direct consequence of the inefficiencies of the state-owned refineries, despite the country’s status as a top oil producer.
He emphasized that selling the refineries would not only halt the wastage of scarce public funds but also pave the way for a more efficient energy sector through private sector participation.
Ajayi-Kadir also appealed for urgent reforms to improve power supply, lower production costs, and boost competitiveness in the manufacturing sector, particularly in the wake of economic reforms such as subsidy removal and naira devaluation.
His remarks reflect the broader concerns of industrial stakeholders over the state of critical infrastructure and the urgent need for strategic government decisions to drive growth and sustainability in the economy.
