In a bold call to action, Segun Ajayi-Kadiri, Director General of the Manufacturers Association of Nigeria (MAN), has urged the Federal Government to privatize Nigeria’s state-owned refineries. He described the Warri, Port Harcourt, and Kaduna facilities as a significant burden on the nation’s economy.
Speaking on Channels Television’s Politics Today, Ajayi-Kadiri emphasized that transferring ownership to the private sector would enhance efficiency and productivity. “When something belongs to everybody, it belongs to nobody,” he stated, advocating for private management to unlock the refineries’ potential.
The Federal Government initiated efforts in 2024 to revive its four refineries, with partial restoration of the old Port Harcourt and Warri units. Rehabilitation continues for the second Port Harcourt refinery and the Kaduna facility, yet challenges persist.
Ajayi-Kadiri criticized the ongoing government control, calling the refineries a “pure drain” on Nigeria’s economy. He argued that their inefficiencies are unfair to citizens in a country rich with entrepreneurial talent.
Privatization, he insisted, would curb corruption and foster accountability in Nigeria’s energy sector. “If you completely go private, it will be difficult for anyone to steal,” he asserted, highlighting transparency benefits.
Nigeria, the world’s sixth-largest crude oil producer, continues to face energy challenges despite its vast resources. Ajayi-Kadiri stressed that private sector investment could address these issues and deliver results.
He urged policymakers to embrace a fully privatized model to optimize the nation’s natural endowment. Such a move, he believes, would reduce fraud and ensure sustainable economic growth.
The MAN DG’s call aligns with broader demands for economic reform in Nigeria’s energy sector. Privatizing the refineries could mark a turning point for efficiency and accountability.