TUC President Osifo: Nigeria’s Refineries Worked But Ran at Loss

By IDNN Energy Desk

Trade Union Congress (TUC) president Festus Osifo has rejected claims that Nigeria’s four refineries “never worked,” insisting they functioned but consistently at losses.

“There’s a difference between equipment working and working efficiently,” he said, explaining that government mismanagement and poor material balance drove shutdowns.

Why Refineries Were Shut

Osifo said feeding crude worth $10m into facilities that yielded $9.5m in refined products was unsustainable. He also noted a technology gap created when units were separated instead of integrated.

Call for Private Sector Role

Osifo urged government to cede 51% ownership to private investors, arguing that majority control is needed to ensure efficiency and profitability in refinery management.

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