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The Economic and Financial Crimes Commission (EFCC) has uncovered a massive financial scandal in Nigeria’s oil sector, arresting the recently sacked managing directors of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company over an alleged $3 billion fraud tied to refinery rehabilitation funds.
Investigations revealed that $1,559,239,084.36 was allocated to the Port Harcourt refinery, $740,669,600 to Kaduna refinery, and $656,963,938 to Warri refinery—funds now under intense scrutiny for possible mismanagement.
In a stunning revelation, N80 billion was traced to the personal accounts of one of the sacked MDs, a top Nigerian National Petroleum Company Limited (NNPCL) management source confirmed.
The former MDs include Ibrahim Onoja (Port Harcourt Refinery) and Efifia Chu (Warri Refinery). Their arrests follow public outrage over the poor performance of the refineries despite claims of successful rehabilitation.
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The Port Harcourt and Warri refineries, hailed as revitalized in late 2024, have delivered disappointing outputs. The Warri plant shut down barely a month after reopening due to safety concerns, while the Port Harcourt refinery struggled at below 40% capacity despite a $1.5 billion overhaul.
Experts and operators have criticized NNPCL for misleading Nigerians about the operational status of the plants, deepening distrust in the company’s transparency.
The EFCC’s investigation has expanded to include the immediate past Group Chief Executive Officer of NNPCL, Mele Kyari, and 13 other senior former executives, according to an April 28, 2025 document obtained from the national oil company.
The commission is probing allegations of abuse of office and misappropriation of funds, demanding certified records of emoluments and allowances from NNPCL.
The officials under probe include Abubakar Yar’Adua, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ademoye Jelili, Mustapha Sugungun, Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya, and Desmond Inyama.
The EFCC spokesman, Dele Oyewale, could not be reached for comment at press time.
Despite official declarations of restored operations, a Saturday PUNCH investigation uncovered that the Warri refinery had been shut since January 25, 2025, over safety issues with the Crude Distillation Unit Main Heater.
A Nigerian Midstream and Downstream Petroleum Regulatory Authority document confirmed the closure, even as NNPCL maintained public claims of ongoing production.
The 60,000 barrels per day Port Harcourt refinery also failed to exceed 42.23% capacity within six months of its relaunch, contradicting projections of 70% capacity with planned increases.
Further complicating matters, support staff at the Warri refinery have announced an indefinite strike starting May 5, 2025, over unpaid benefits, low pay, and casualization. The strike threatens to derail plans to restart the crude and vacuum distillation units and a gas plant this month.
Representative Dafe Ighomitedo said the workers had been protesting their employment conditions since 2015 and were promised salary improvements that never materialized after the refinery’s restart.
“This strike is our last resort after years of unfulfilled promises,” Ighomitedo stated.
The unfolding scandal raises serious questions about Nigeria’s refinery rehabilitation program, with billions spent but little to show in operational capacity.
Meanwhile, marketers lamented their inability to lift petroleum products at the Warri refinery, while security operatives blocked non-staff members from accessing the premises.
As arrests mount and investigations deepen, Nigerians await answers to the burning question: where did the money go, and what really happened to the refineries?
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