How Buhari Administration spent $19bn on moribund refineries, By Gov. Sule
In a recent media chat with Channels Television, the governor of Nassarawa state, Gov. Abdullahi Sule, made it clear that former President Muhammadu Buhari spent more than 19 billion dollars on sick refineries without results, yet Dangote’s refinery is several times the size of our refineries. He added that there was too much fraud in fuel subsidies, which is why it is important for President Tinubu to remove it.
He further stated that the three Nigerian refineries can only supply a total of 450,000 barrels of fuel, while Dangote’s refinery can supply 650,000 barrels per day.
According to him, “I’ve always supported the removal of subsidies as a professional in my background because I knew there was too much fraud in it because the only reason we’re paying subsidies is because we’re not refining. So if we had taken care of our refineries very well, there wouldn’t have been this. In the year 2002, we gave 18 licenses, and I was there in Lagos for private refineries, and not one of them was built. So a lot of things have happened: the government tried this, it didn’t work, tried this, it didn’t work, thinking that if we had done that, all this subsidy would have been over. Look at how much the Buhari administration spent on fixing the refineries. In the 8 years, he spent more money than the 19 billion that Dangote spent in building a refinery that is 112 times the size of all our three refineries combined. Our three refineries in Nigeria today produce a total of 450,000 barrels per day. Dangote is 650,000; he spent 19 billions on building it. We spent more than 19 billion dollars in maintenance rather than building new refineries in the last eight years, but they have not been maintained.”
According to him, “Look at how much the President Buhari spent on fixing the refineries. In the eight years, he spent more money than the $19 billion that Dangote spent in building a refinery. That is one and half times the size of our three refineries combined.
“From the government side, I think we didn’t do a good job. When former President Buhari came in in 2015, prices of crude oil dropped by less than 30 dollars. At that time there was zero subsidy.
“Our three refineries in Nigeria today have a total of 450,000 barrels per day, Dangote is 650,000.
“He spent $19 billion on building it. We spent, not building a new one, but in maintaining these refineries more than $19 billion in eight years, yet they have not been maintained”.
Mr. Abdullahi Sule
Governor, Nasarawa State
Federal Republic of Nigeria
