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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