Nigeria’s $2.9B Refinery Scandal Triggers National Outrage, Arrests of Top Oil Executives

Written on 04/05/2025
Business Day

Nigeria’s oil sector is once again in the spotlight following a deepening corruption scandal surrounding the alleged mismanagement of over $2.9 billion allocated for refinery rehabilitation projects.

The Economic and Financial Crimes Commission (EFCC) has arrested several high-ranking former officials tied to the Port Harcourt, Warri, and Kaduna refineries, including Ibrahim Onoja, ex-MD of Port Harcourt Refining Company, and Efifia Chu, former MD of Warri Refining and Petrochemical Company.

The funds under scrutiny include $1.56 billion for Port Harcourt, $740 million for Kaduna, and $656 million for Warri. Investigations are currently underway to track how the funds were spent—or allegedly diverted—with economic analysts and anti-corruption advocates demanding urgent prosecution and systemic reforms within the Nigerian National Petroleum Company Limited (NNPCL).

Economic analyst Alex Nnaemeka stressed the importance of digging beyond surface-level accountability, identifying accomplices still in service, and delivering justice as a matter of national interest.