Oil Reform Group Accuses NNPCL of Wasting $1bn on Refineries, Demands Audit

A coalition of oil sector reform advocates has criticised NNPC Limited’s new deal with Chinese firms to revive the Port Harcourt and Warri refineries. They call the memorandum of understanding a repeat of failed strategies and a sign of weak fiscal discipline. The Centre for Energy Sector Transparency warns that over $1 billion has already been spent on these refineries without results. Its executive director says Nigerians deserve a full audit of past investments before any fresh partnership is pursued. The group has urged the National Assembly, EFCC, and other oversight bodies to launch a forensic probe into all contracts and expenditures related to refinery rehabilitation. They argue that transparency and accountability are essential to restore public trust and ensure sustainable results.

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