An evaluation of the performance of Nigeria’s refineries since 1999-2021
The main thrust of this study is to critically evaluate the performance of Nigeria’s refineries since 1999-2021. The study was guided by the following objective;To investigate the difficulties of building refineries in Nigeria during the period under study; To understand why private organisations are finding it difficult to build refineries in Nigeria; To examine whether Nigeria refineries have live upto its responsibilities
The study reveals that Nigeria refineries has failed woefully and relied heavily on importation of oil. The study also reveled that change of ownership structures from the government sector to the private sector between the two eras, present additional challenges. These challenges cut across availability of capital, inconsistent government priorities and access to land for construction. Others include cronyism and corruption, weak political will, unstructured refinery licensing scheme, security challenges and economic factors regarding the regulated downstream market in Nigeria. Key recommendations proffered to help solve these problems include a private sector-led partnership with the government in the form of public private partnerships (PPPs), a review of existing methods for licensing refineries for private organisations, the development of local manpower with relevant technical skills to help lower the cost of expatriate labour and the establishment of more designated clusters as free trade zones within the oil-producing Niger Delta. These recommendations will help lower the entry barriers for private organisations in this sector.