The Economic and Financial Crimes Commission (EFCC) has recovered over N5 billion and $10 million from contractors and officials implicated in the failed turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
According to reliable sources, the anti-graft agency is pursuing an additional N10 billion and $13 million allegedly siphoned through inflated contracts awarded for the rehabilitation projects.
Olukoyede leads investigation personally
The EFCC Chairman, Ola Olukoyede, is said to have taken direct control of the investigation. Insiders noted his frustration over the non-functional state of Nigeria’s refineries despite billions of dollars allocated for their rehabilitation.
Nigeria’s four state-owned refineries have remained largely dormant for decades, forcing the country to depend heavily on imported petroleum products.
Billions of dollars have been budgeted across successive governments for their revival, yet the facilities in Warri, Kaduna, and Port Harcourt continue to underperform.
Billions released, little to show
The EFCC is probing funds previously approved for the projects, including:
$1.55 billion for the Port Harcourt refinery
$740 million for the Kaduna refinery
$656 million for the Warri refinery
Top EFCC investigators revealed that fraudulent practices such as over-invoicing, contract inflation, and questionable payments were responsible for the refineries’ persistent failures.
Suspects grilled, charges expected
Sources confirmed that both serving and former management teams of the Nigerian National Petroleum Company Limited (NNPCL) and the three refineries had been repeatedly interrogated.
One EFCC source said:
“Our investigation into the turnaround maintenance of the nation’s refineries in Warri, Kaduna and Port Harcourt has yielded major discoveries of large-scale fraud. Investigators discovered fraudulent dealings through over-invoicing, contract inflation and questionable payments were largely responsible for the malfunctioning of the refineries. A total sum of $10m and N5bn have so far been recovered from suspects indicted in the fraud.”
The source added that charges are imminent:
“Investigations are already concluded on some officials of the NNPCL involved in the rehabilitation contracts and the commission is ready to file charges against them. Both former management and present management of the NNPCL and refineries may be charged.”
More funds under recovery
Another senior EFCC official disclosed that more recoveries were underway:
“While we have recovered some money, another $13m and N10bn discovered to be siphoned through contractors engaged in the maintenance are due to be recovered.”
The official further revealed that the agency is investigating fresh allegations of contract inflation worth about $40 million, allegedly involving NNPCL officials and contractors.
Silence from EFCC spokesperson
Efforts to reach the EFCC’s Head of Media and Publicity, Dele Oyewale, were unsuccessful as calls and text messages were not returned.
However, a senior official, speaking off the record, confirmed the recoveries made so far.
Background
Nigeria’s state-owned refineries have long been a symbol of public sector inefficiency and corruption. Despite over four decades of promises and billions of dollars spent, the refineries have failed to operate at full capacity.
The latest EFCC investigation could mark a turning point, as Nigerians continue to endure fuel import dependence, rising energy costs, and distrust over government handling of public resources.
Credit: The punch
