The Economic and Financial Crimes Commission (EFCC) has pulled back over N5 billion and $10 million from the deep pockets of contractors and officials who allegedly turned Nigeria’s refineries into bottomless pits of corruption.
But wait—there’s more. The anti-graft agency says another N10 billion and $13 million are still out there floating around like lost luggage at an airport carousel, courtesy of “contract inflation” and other corrupt practices.
EFCC Chairman, Ola Olukoyede, has decided this is not a “delegate-and-watch” kind of case—he’s personally leading the charge. Word is, he’s tired of billions being spent while the refineries in Warri, Kaduna, and Port Harcourt remain unproductive.
For decades, Nigeria’s refineries have been more of tourist sites than functional plants. Billions have been budgeted, billions released, yet they perform worse than a broken generator in rainy season.
The Big Spending History Lesson
$1.55 billion for Port Harcourt refinery
$740 million for Kaduna refinery
$656 million for Warri refinery
And yet, not one of them can boast of reliably producing fuel. According to EFCC sleuths, the issue wasn’t “complex engineering” but old classics—over-invoicing, padded contracts, and “ghost” payments.
Suspects Under the Grill
Current and former NNPCL managers have been doing “rounds” at the EFCC office. One investigator quipped that the fraud uncovered could “refuel an entire country”—if only it had been spent right.
So far, $10m and N5bn have been clawed back, but more heads may soon roll as the commission prepares to file charges. Both yesterday’s and today’s NNPCL managers could be in the dock.
More Money in the Shadows
Another senior official confirmed there’s still $13m and N10bn to be recovered—and fresh allegations of $40m in contract inflation. In other words, the money trail is starting to look like a never-ending Nollywood series.
EFCC Spokesperson on Silent Mode
Calls to EFCC’s media chief, Dele Oyewale, rang out like unanswered customer care lines. Still, insiders confirmed the recoveries and ongoing investigations.
The Bigger Picture
Nigeria’s state-owned refineries have been the country’s most expensive white elephants. Despite 40+ years of promises and billions spent, they remain stubbornly idle. Nigerians, meanwhile, continue to rely on imported fuel, rising pump prices, and the hope that maybe, just maybe, one day a refinery will actually refine.
This latest EFCC probe might just be the plot twist Nigerians have been waiting for—or another episode in the long-running soap opera titled “Billions Gone, Refineries Still Sleeping.”
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