Atiku Will Make A Decision On Whether To Privatize Or Commercialise Nigeria’s Refineries—Okonkwo

Kenneth Okonkwo, spokesperson for the African Democratic Congress (ADC), has declared that former Vice President Atiku Abubakar would determine whether Nigeria’s state-owned refineries should be privatised or operated commercially if he assumes office as president.

However, he maintained that regardless of the option adopted, the facilities must return to full operation without unnecessary delays.

Okonkwo made the remarks during an appearance on Inside Sources, a programme aired on Channels Television.

In a video published on the station’s official YouTube channel on Sunday, October 11, 2026, he discussed the controversy surrounding fuel subsidies, the management of Nigeria’s petroleum resources and the need to revive domestic refining capacity.

According to the ADC spokesperson, a possible Atiku administration would not make decisions about the refineries without first consulting professionals in the oil and gas industry.

He explained that the period between an electoral victory and the formal transfer of power would provide an opportunity to engage relevant experts and determine the most effective approach to restoring the facilities.

Okonkwo stressed that the incoming administration would need to act swiftly rather than allow the refineries to remain unproductive while Nigerians continued to contend with high petrol prices and the consequences of relying heavily on imported petroleum products.

Speaking during the interview, he said Atiku would examine the available options before deciding the future ownership and management structure of the facilities.

“Atiku will now make a decision as to the refineries, whether to privatize or commercialize or this, but the refineries must start working immediately,” Okonkwo stated.

He further recalled that Nigeria’s refineries had previously been subjected to privatisation efforts under an earlier administration.

According to him, the possibility of returning to that arrangement could be considered if consultations with industry experts showed that private ownership would provide the most effective means of restoring production.

The ADC spokesperson’s comments suggest that the proposed approach would prioritise operational efficiency and tangible results over a commitment to any particular ownership model.

Whether through privatisation, commercialisation or another arrangement, he insisted that the facilities should be capable of refining crude oil and supplying petroleum products to the domestic market.

Okonkwo also criticised the substantial amounts of public funds reportedly spent on rehabilitating the refineries over the years, arguing that such expenditure had not delivered the expected benefits to Nigerians.

He alleged that previous efforts to restart the facilities were partly intended to create a public impression that progress had been made, despite questions about their ability to sustain production. The allegation was not independently verified in the material provided.

Nigeria’s state-owned refineries have remained a major subject of public debate because of repeated rehabilitation projects, concerns about maintenance costs and the country’s continued dependence on imported refined petroleum products.

The issue has also featured prominently in discussions about fuel prices, government spending and the long-term sustainability of the nation’s energy sector.

Okonkwo maintained that restoring the refineries would be an important step towards improving domestic fuel supply and potentially reducing the pressure associated with importing petroleum products. He argued that the country could not afford to continue spending heavily on facilities that failed to deliver their intended economic benefits.

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