Tinubu vows to revive state-owned refineries
President Tinubu met with NUPENG leaders and pledged to restore Nigeria’s state-owned refineries to full profitability through structural and technical overhauls.
President Bola Tinubu met with the national executive of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) at the State House in Abuja. Reaffirming his administration’s commitment to restoring Nigeria’s state-owned refineries to full profitability, Tinubu emphasised that his government accepts full responsibility for state assets and will focus on structural, technical, and operational overhauls rather than assigning blame to past administrations.
The pledge is a shift in tone from previous administrations, which often blamed their predecessors for the state of the refineries. Tinubu’s acceptance of responsibility is a recognition that the problem is not just about who caused it but about finding solutions. The focus on structural and technical overhauls is welcome, but the refineries have been in disrepair for decades, and restoring them will require sustained investment and political will.
This echoes the 2010s efforts to revive the refineries, which also saw promises of rehabilitation that never materialised. The mechanism was different then, but the result was the same: a cycle of promises and disappointment.
The winners: NUPENG members, who may benefit from improved operations; and the Nigerian government, which has made a bold commitment. The losers: the Nigerian public, who have heard such promises before; and the government, which must now deliver.
Bottom Line: Tinubu has promised to restore the refineries. The question is whether this time will be different or the promises will remain unfulfilled.