By Muhammad Mamman
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the federal government to launch a comprehensive forensic investigation into the reported N11.35 trillion spent on rehabilitating Nigeria’s state-owned refineries.
In a statement issued on Thursday, PETROAN’s National Public Relations Officer, Joseph Obele, said the probe is crucial to restoring public trust in government-managed investments and ensuring accountability in the oil and gas sector.
Obele noted that despite years of funding allocations for turnaround maintenance, the refineries have remained non-functional, forcing the country to rely heavily on imported petroleum products.
He argued that only a transparent and independent audit would clarify how the funds were utilised and whether the spending delivered value to Nigerians.
PETROAN stressed that the government’s commitment to reforming the downstream and midstream sectors must begin with addressing longstanding concerns around refinery rehabilitation financing.
The association urged the authorities to make the findings of the proposed audit public, insisting that Nigerians deserve a clear explanation regarding the massive expenditure.
