The Economic and Financial Crimes Commission (EFCC) has recovered more than N5 billion and $10 million from contractors and government officials tied to fraud in the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
According to Sunday PUNCH, the anti-graft agency is now working to recover an additional N10 billion and $13 million allegedly siphoned through contractors engaged in the maintenance projects. EFCC Chairman, Ola Olukoyede, personally took charge of the probe, reportedly frustrated by the non-functional state of the refineries despite the massive public spending.
Nigeria’s four refineries have struggled for decades, with successive administrations spending billions on rehabilitation without achieving full operational capacity. The underperformance of these facilities has forced the country to rely heavily on imported petroleum products.
Sources at the EFCC revealed that fraudulent practices, including over-invoicing, contract inflation, and questionable payments, were central to the refineries’ inability to operate effectively. Former management teams of the three refineries have been repeatedly interrogated, and some officials of the Nigerian National Petroleum Company Limited (NNPCL) are expected to face charges.
“Our investigation uncovered large-scale fraud through over-invoicing and inflated payments, which have hampered the refineries’ productivity,” a source said. “A total of $10 million and N5 billion has so far been recovered from implicated contractors and officials. Additional recoveries of $13 million and N10 billion are underway.”
The source also revealed that fresh allegations of contract inflation, worth around $40 million, are being probed, involving NNPCL officials and contractors engaged to procure equipment for the rehabilitation projects.
While the EFCC’s Head of Media and Publicity, Dele Oyewale, could not be reached for comments, a senior official confirmed the recoveries and the ongoing investigations.
This marks a significant move in the commission’s efforts to hold accountable those responsible for decades of underperformance at Nigeria’s key refineries.
