Atiku demands Tinubu account for ₦4trn spike in refinery liabilities

Atiku Abubakar, Nigeria's former Vice President, has demanded that President Bola Ahmed Tinubu assume accountability for the mounting financial obligations weighing on the nation's refineries instead of shifting blame to earlier administrations. Through his spokesperson Phrank Shaibu, who issued a statement on Sunday, Atiku directed attention to verified data demonstrating substantial growth in refinery liabilities during Tinubu's period in power.

Documentation from the Nigerian National Petroleum Corporation, which Atiku's team referenced, reveals that Port Harcourt, Warri, and Kaduna refineries' combined liabilities have expanded markedly. The figures show an uptick of roughly ₦4.15 trillion—with certain sources indicating obligations rose from ₦4.52 trillion in 2023 to ₦8.67 trillion in 2024.

Atiku labeled the government's stance as evasive, observing that Tinubu's administration supplied capital to these facilities and initially celebrated their rehabilitation as vindication of its Renewed Hope Agenda. Atiku's stance diverges sharply from the administration's characterization of refinery difficulties as inherited burdens.

He maintains that after more than three years in power, leaders cannot persist in attributing these issues to their predecessors while presiding over mounting financial exposure to the sector. Records of expenditure and liabilities under Tinubu's leadership demonstrate this trajectory unmistakably, he contends.

The former ADC presidential hopeful has insistently called for transparent disclosure regarding the magnitude of funds channeled into refineries and the reasons why such investments have failed to produce consistent output or contain rising liabilities. This represents an escalation in political contestation concerning the administration's stewardship of the oil sector and its fiscal handling of vital state assets.