The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to conduct a full forensic audit into the ₦11.35 trillion reportedly spent on the rehabilitation of the country’s four state-owned refineries over the last decade. In a statement issued by its National Public Relations Officer, Joseph Obele, the association argued that the investigation is essential to restore public confidence in the petroleum sector.
According to PETROAN, massive public funds have been expended on turnaround maintenance for the Port Harcourt, Warri, and Kaduna refineries, yet the facilities remain largely non-functional. The association pointed to specific approved contracts, including $1.5 billion for the Port Harcourt refinery and a combined $1.48 billion for the Warri and Kaduna plants. The group expressed concern that these significant outlays have not translated into operational results, prompting existing investigations by security agencies and legislative bodies into allegations of fraud and mismanagement.
The Port Harcourt refinery has been a particular focus of scrutiny. Although the Nigerian National Petroleum Company (NNPC) Limited held a high-profile ceremony to commemorate its “mechanical completion” in December 2023, the plant has struggled to sustain production. Records show that while a 60,000-barrel-per-day unit briefly restarted late in 2024, it was shut down again on May 24, 2025, due to persistent mechanical failures.
PETROAN is now demanding that the NNPC ensure the Port Harcourt refinery commences full commercial production by the first quarter (Q1) of 2026. The association noted that the continued inactivity of state refineries has limited local refining capacity, increased the nation’s dependence on imported petroleum, and placed undue pressure on foreign exchange and fuel pump prices.
The call for an audit comes amid a leadership transition at the NNPC. In 2025, Bayo Ojulari took over as Group CEO and launched a comprehensive technical and commercial review of the refineries. While Ojulari has rejected calls for an outright sale of the assets, PETROAN continues to advocate for a transparent privatization process by the end of March 2026. The association maintains that private sector-led management is the only way to align Nigeria’s refining sector with global best practices and ensure national energy security.
 has called on the Federal Government to conduct a full forensic audit into the ₦11.35 trillion reportedly spent on the rehabilitation of the country's four state-owned refineries over the last decade. In a statement issued by its National Public Relations Officer, Joseph Obele, the association argued that the investigation is essential to restore public confidence in the petroleum sector.){kind=link}