The Economic and Financial Crimes Commission (EFCC) has recovered a staggering ₦5 billion and $10 million linked to large-scale fraud in the turnaround maintenance projects of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
According to Punch investigations, the EFCC is also pursuing the recovery of an additional ₦10 billion and $13 million suspected to have been siphoned through inflated contracts and fraudulent transactions involving contractors and public officials.
EFCC Chairman Ola Olukoyede is said to be personally overseeing the investigation, expressing deep concern over the continued dysfunction of Nigeria’s refineries despite billions of dollars allocated over the years for their rehabilitation.
Refineries Idle Despite Billions Spent
Despite repeated budget allocations by successive administrations, Nigeria’s four state-owned refineries have remained largely inactive. The result: a nation heavily reliant on imported petroleum products, despite its abundant crude oil reserves.
EFCC investigations are focusing on funds disbursed for the refineries’ rehabilitation, including:
$1.55 billion for Port Harcourt refinery
$740 million for Kaduna refinery
$656 million for Warri refinery
Preliminary findings point to widespread fraud, including over-invoicing, contract inflation, and irregular payments, which allegedly contributed to the persistent non-performance of the facilities.
“Our probe into the turnaround maintenance of the Warri, Kaduna, and Port Harcourt refineries has uncovered extensive fraud. These include inflated contracts and questionable payments,” a senior EFCC source revealed.
Contractors, NNPC Officials Under Scrutiny
Sources confirm that both serving and former officials of the Nigerian National Petroleum Company Limited (NNPCL), as well as contractors tied to the refinery projects, are currently under investigation. Some have already been interrogated multiple times.
“So far, ₦5 billion and $10 million have been recovered from contractors and government officials implicated in the fraud,” the source added. “We are also tracing another ₦10 billion and $13 million in diverted funds connected to the same projects.”
In addition, the EFCC is examining new allegations of contract inflation worth $40 million, allegedly involving NNPCL officials and contractors hired for equipment procurement related to the rehabilitation works.
Prosecution Imminent
While the EFCC’s Head of Media and Publicity, Dele Oyewale, was unavailable for comment at press time, a senior official of the agency confirmed the recoveries. The official noted that criminal charges are being considered and may soon be filed against some of the individuals implicated in the scandal.
This latest development underscores the growing demand for accountability in Nigeria’s oil and gas sector, which has long been plagued by corruption, mismanagement, and lack of transparency.
