The Economic and Financial Crimes Commission (EFCC) has recorded significant progress in its investigation into the multi-billion-naira fraud linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
According to reliable sources, the commission has so far recovered over ₦5 billion and $10 million from contractors and government officials indicted in the scheme. In addition, the anti-graft agency is working to recover another ₦10 billion and $13 million allegedly siphoned through inflated contracts and questionable payments.
EFCC Chairman Leads Investigation
EFCC Chairman, Ola Olukoyede, is said to be personally overseeing the probe due to his dissatisfaction with the state of the refineries, which remain largely non-functional despite decades of heavy public spending. Nigeria currently relies almost entirely on imported petroleum products, even though successive governments have allocated billions of dollars for refinery rehabilitation.
The commission is investigating the $1.55 billion allocated to the Port Harcourt refinery, $740 million released for the Kaduna refinery, and $656 million approved for the Warri refinery. Sources revealed that large-scale fraudulent practices — including over-invoicing, contract inflation, and dubious payments — were responsible for the continued collapse of the facilities.
Former Officials Under Interrogation
Investigators have repeatedly questioned former management teams of the three refineries. Findings indicate that both serving and retired officials of the Nigerian National Petroleum Company Limited (NNPCL) may soon face prosecution for their roles in the fraudulent rehabilitation contracts.
One 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. A total sum of $10 million and ₦5 billion have so far been recovered from suspects. Investigations have been concluded on some officials of the NNPCL, and charges are being prepared.”
More Recoveries and Fresh Allegations
Beyond the initial recoveries, the EFCC is also pursuing the retrieval of another $13 million and ₦10 billion allegedly siphoned by contractors. Furthermore, investigators are probing fresh allegations of contract inflation worth about $40 million, linked to officials of the NNPCL and contractors involved in procurement for the refineries’ rehabilitation projects.
Although the EFCC’s Head of Media and Publicity, Dele Oyewale, could not be reached for official comments, a senior commission official confirmed the recoveries but declined to provide further details.
A Long History of Rot
Nigeria’s four state-owned refineries have been dormant for decades despite repeated rehabilitation budgets running into billions of dollars. Their failure has left Africa’s largest oil producer dependent on costly fuel imports, burdening the economy and worsening living conditions for ordinary Nigerians.
As the EFCC prepares to file charges against indicted officials, many Nigerians will be watching closely to see if this investigation finally delivers accountability in the long-troubled oil sector.