The African Democratic Congress (ADC) has strongly criticized the Federal Government’s reported plans to sell Nigeria’s state-owned refineries, insisting that no such move should proceed without a full and independent audit of the facilities.

In a statement issued by the party’s National Publicity Secretary and Coalition Spokesperson, Mallam Bolaji Abdullahi, the ADC raised alarm over the lack of accountability in the government’s handling of the refineries, particularly in light of claims that nearly $18 billion has been spent on their rehabilitation over several years—with little to no improvement in output.

The party specifically questioned the rationale behind the Tinubu administration’s recent move to privatise the facilities, barely months after officials claimed that the Port Harcourt and Warri refineries had resumed partial operations.

“It is curious that the same government, having spent such humongous amounts on the refineries, is now planning to sell them off,” the statement read. “ADC is concerned about the perennial waste and underhanded dealings in the name of turnaround maintenance that never turned anything around but the personal fortunes of those involved.”

The ADC expressed suspicion that the proposed sale may be shrouded in a lack of due process, warning that national assets risk being “deliberately devalued and sold to cronies.”

The party is therefore demanding a comprehensive audit—financial, technical, and structural—before any privatisation plans are considered. According to the ADC, the current administration alone has spent an additional $2.8 billion on the refineries, despite no clear evidence of improved refining capacity or reduced dependence on imported petroleum products.

Citing comments made by billionaire industrialist Aliko Dangote, who recently cast doubt on the viability of reviving the government-owned refineries, the ADC questioned whether the country is simply selling off “scrap or sovereign assets.”

“If the intention all along was to privatise the refineries, then the years of huge public spending is at best a waste, and at worst a scam,” the statement continued. “Government cannot, in good conscience, expend public funds on assets under the guise of rehabilitation, only to turn around and offer them for sale without accountability on the investments already made and without any public reckoning.”

The ADC said that in more transparent jurisdictions, those responsible for such financial mismanagement would have been held to account. It called on the Tinubu administration to ensure that public interest, transparency, and stakeholder consultation guide any further actions regarding the refineries.