NNPCL’s Proposed Sale Of Refineries: Matters Arising

Femi Falana, a Senior Advocate of Nigeria, maintains that the NNPCL lacks the legal power to sell Nigeria’s public refineries, arguing they belong to the federation, federal, state, and local governments as provided by Section 44(3) of the Constitution. He also highlights concerns about transparency and accountability in the management of these assets.

Falana further raises allegations of missing funds, calling for an investigation into the $2.9 billion earmarked for refinery rehabilitation and noting that $18 billion has been spent on turnaround maintenance for the Port Harcourt, Warri, and Kaduna refineries without results. He also questions the NNPCL’s stake in the Dangote Refinery, pointing out the Federal Executive Council approved $2.76 billion for a 20% stake in 2021, but Aliko Dangote recently claimed only 7.2% was acquired, prompting calls for the EFCC to investigate.