Shell’s Rejection of Nigerian Refinery Management Offer: Obasanjo Reveals Key Details

Former President Olusegun Obasanjo has shed light on a significant episode from his presidency, revealing that his administration had actively sought Shell Plc’s involvement in managing Nigeria’s refineries. In a recent interview with the Financial Times, Obasanjo disclosed that despite efforts to persuade the oil giant, Shell declined the offer.

Obasanjo, who served as Nigeria’s president from 1999 to 2007, recounted how he extended an invitation to Shell, proposing that the company take equity participation and oversee the operations of the country’s refineries. Shell’s response, according to Obasanjo, was a firm refusal. The company cited concerns over the poor maintenance of the refineries and pervasive corruption within the sector.

“They said our refineries have not been well maintained,” Obasanjo explained. “We had brought amateurs rather than professionals to manage them. They were deterred by the corruption issues and the overall state of the refineries, which they deemed too messy to get involved with.”

Obasanjo also reflected on the ongoing challenges with Nigeria’s refineries, questioning the efficacy of repeated promises to address the issues. “How many times have we been told that the refineries will be fixed, and at what cost?” he asked. According to Obasanjo, these problems have persisted and even worsened over time, undermining efforts to resolve the crisis.

The former president’s revelations highlight ongoing concerns about the management and maintenance of Nigeria’s refineries and the broader issues of corruption within the sector.