The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadiri, has called on the Federal Government to fully privatise the country’s state-owned refineries, citing their inefficiency and drain on the economy. Ajayi-Kadiri argues that handing over the refineries to the private sector would promote efficient management, productivity, and accountability.
According to him, the continued government ownership of the refineries has proven ineffective and unfair to the Nigerian people. He believes that privatisation would reduce corruption and promote accountability in the energy sector. Nigeria’s state-owned refineries have faced long-standing issues of inefficiency and underperformance.
In contrast, the Dangote Refinery in Lagos has raised hopes of reducing fuel imports and boosting local refining. Ajayi-Kadiri dismisses concerns about market monopoly, saying competition remains viable with the potential for other refineries to operate efficiently under private management.
Ajayi-Kadiri’s stance is that privatisation would bring much-needed efficiency and accountability to the refineries, ultimately benefiting the Nigerian economy and people. By selling off the refineries, the government can reduce its burden and allow private sector expertise to drive productivity and growth.
