The Nigerians in Diaspora Movement (NDM) has alleged that the Nigerian National Petroleum Corporation Limited (NNPCL) is fostering a monopolistic environment favouring Dangote Refinery by failing to revive government-owned refineries.

Dr Donald Illiya, NDM’s Global President, raised these concerns in a statement issued from London on Monday, November 25.

He accused NNPCL of deliberately keeping the Port Harcourt, Warri, and Kaduna refineries non-functional despite spending over ₦17 trillion on their rehabilitation over two decades.

“For us, taking in the state of the nation's economy and the ongoing cost of living crisis, Nigeria’s fate is tied to the government-owned refineries, which must be made functional to cause a consequential drop in fuel prices,” Illiya stated.

He criticised the public tensions between NNPCL and Dangote Refinery as a diversion to obscure the agency’s alleged complicity in creating a monopoly.

The group highlighted that funds for refinery rehabilitation have been mismanaged. Between 2002 and 2022, trillions of naira were reportedly spent on turnaround maintenance with no tangible results.

Illiya pointed out that under President Muhammadu Buhari, $1.5 billion was allocated to refinery repairs in 2019. Yet, deadlines for completion, including the Port Harcourt Refinery’s 2023 and 2024 targets, have repeatedly been missed.NDM expressed concern that corruption within NNPCL is the root cause.

“The refineries are being kept moribund to create a favourable condition for the emergence of a monopoly. This is a tragic turn of events,” the statement read.

The group called on President Bola Tinubu to urgently address the “rot” within NNPCL and prioritise functional local refineries.

They warned that allowing a monopoly in the oil sector could lead to higher fuel prices and a single point of failure for the nation’s fuel supply.