Government-Owned Refineries Are Dead Says Economist Citing 60 Years Of Mismanagement

Economist Kelvin Emmanuel has dismissed any hopes of reviving Nigeria’s government-owned refineries, declaring them “dead assets.” Speaking with Channels Television, Emmanuel criticized the government’s inability to effectively manage… CONTINUE READING…

the refineries, despite multiple missed deadlines and heavy investments in repairs.

He argued that, after six decades, government-owned refineries like the Port Harcourt facility—which has missed over eight reopening deadlines—have proven unsustainable. He suggested they might be better repurposed for blending low-grade fuel rather than attempting to revive them as full-scale refineries.

The Port Harcourt refinery, with a capacity of 250,000 barrels per day, has remained inactive despite government promises. Meanwhile, Nigerians face soaring petrol prices, with a liter now costing over ₦1,000.