Former President Olusegun Obasanjo has reiterated his long-standing position that Nigeria’s state-owned refineries are unlikely to function effectively under current structures, renewing his call for greater private sector involvement.
Obasanjo made the remarks during a television interview aired on Sony Irabor Live on Saturday, where he reflected on past efforts to reform the country’s energy sector.
He argued that public-private partnerships remain the most viable model for managing large-scale national assets, citing the success of the Nigeria LNG Limited (NLNG) as an example where majority private ownership has ensured efficiency and sustainability.
“One of the lessons that I learnt is that PPP works,” he said, contrasting NLNG’s performance with what he described as the decline of government-run enterprises, including the Nigerian railways, national shipping company, and the Nigerian National Petroleum Company Limited (NNPC).
Obasanjo maintained that he had previously warned that the country’s refineries would not deliver results under state control, recalling criticism he faced at the time.
He also disclosed that during his administration, he made attempts to привлечe global energy giant Shell to manage Nigeria’s refineries, including offering equity participation.
“Look, when I was there, I called Shell… I said, ‘Please, come and take 10 per cent equity and run the refinery for us.’ They said no,” he stated, adding that even a proposal for the company to operate the facilities without equity was declined.
