{"id":115500,"date":"2025-07-02T04:39:22","date_gmt":"2025-07-02T08:39:22","guid":{"rendered":"https:\/\/africatodaynewsnewyork.com\/?p=115500"},"modified":"2025-07-02T04:39:22","modified_gmt":"2025-07-02T08:39:22","slug":"refineries-are-economic-drains-sell-them-man-dg","status":"publish","type":"post","link":"https:\/\/africatodaynewsnewyork.com\/2025\/07\/02\/refineries-are-economic-drains-sell-them-man-dg\/","title":{"rendered":"Refineries Are Economic Drains, Sell Them \u2013 MAN DG"},"content":{"rendered":"

Segun Ajayi-Kadiri, Director General of the Manufacturers Association of Nigeria (MAN), has called on the Federal Government to consider a complete handover of Nigeria\u2019s state-owned refineries<\/a> to private investors, labelling the facilities as nothing more than a financial burden on the nation.<\/strong><\/p>\n

Speaking during an interview on Politics Today<\/em> with Channels Television, Ajayi-Kadiri argued that the Port Harcourt, Warri, and Kaduna refineries would only become viable if entrusted to the private sector, where efficient operations and productivity could finally replace years of stagnation.<\/p>\n

\u201cIf you ask me, the government should just sell these refineries. Give them to private sector people who will run them efficiently and be able to deliver. When something belongs to everybody, it belongs to nobody,\u201d Ajayi-Kadiri said on Tuesday.<\/p>\n

The federal government began efforts in 2024 to revive its four state-owned refineries, with the old Port Harcourt and Warri refineries partially restored, while rehabilitation continues on the second Port Harcourt unit and the Kaduna refinery.<\/p>\n

\n

Read also: Why Africa Failed To Build New Refineries In 35 Yrs \u2013 Dangote<\/a><\/strong><\/h1>\n<\/blockquote>\n

However, the MAN DG lamented that the continued government ownership of the facilities has not only proven ineffective but also unfair to the Nigerian people, especially in a country brimming with capable entrepreneurs.<\/p>\n

\u201cThose four refineries are a pure drain on the Nigerian economy, and it is not fair to the Nigerian people. We should have a situation where we are able to speak truth to ourselves and encourage private sector investment,\u201d he stated.<\/p>\n

Ajayi-Kadiri argued that adopting a fully privatised model for Nigeria\u2019s refineries would help curb corruption and enhance accountability within the energy sector. He noted that it was ironic for a country ranked as the world\u2019s sixth-largest crude oil producer to continue experiencing such challenges. According to him, if the government handed over full control to private investors, it would become far more difficult for anyone to engage in theft or mismanagement, and accusations of large-scale fraud would be significantly reduced.<\/p>\n

Africa Today News, New York<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Segun Ajayi-Kadiri, Director General of the Manufacturers Association of Nigeria (MAN), has called on the Federal Government to consider a complete handover of Nigeria\u2019s state-owned refineries to private investors, labelling the facilities as nothing more than a financial burden on the nation. Speaking during an interview on Politics Today with Channels Television, Ajayi-Kadiri argued that […]<\/p>\n","protected":false},"author":9,"featured_media":115501,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-115500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","pmpro-has-access"],"yoast_head":"\nRefineries Are Economic Drains, Sell Them \u2013 MAN DG<\/title>\n<meta name=\"description\" content=\"Segun Ajayi-Kadiri, Director General of the Manufacturers Association of Nigeria (MAN), has called on the Federal Government to consider a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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