By Luminous Jannamike

ABUJA — President Bola Ahmed Tinubu has been petitioned over the shutdown of the Port Harcourt refinery, with civil society groups and labour activists claiming the facility was still profitable at the time of its closure.

The petitioners urged the President to order an independent investigation into the refinery’s operations before its shutdown.

In a statement signed by Emmanuel Ekpeyong of OilWatch Nigeria, Danladi Usman of Workers’ Rights Alliance, and Babatunde Anifowoshe of Nigeria Concerned Citizens Watch, the groups alleged that the closure of the refinery was unjustified and harmful to the country’s economy.

The petition was also copied to the Senate President, the Speaker of the House of Representatives, and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

According to the petitioners, conflicting explanations had been given for the refinery’s shutdown, including claims of maintenance requirements and alleged monthly losses.

They argued, however, that financial data from the facility showed otherwise.

“Whilst it is difficult to keep track of the ever-evolving position on Port Harcourt refinery, the fact remains that the refinery was running profitably and earning Nigeria an average monthly profit of over $20 million before it was shut down,” the petition stated.

The groups also alleged that vested interests might have influenced the decision, particularly regarding crude oil allocations meant for the refinery.

They maintained that shutting down the facility had far-reaching consequences for Nigeria’s energy security and foreign exchange stability.

“By shutting down a fully operational refinery, unforgivable economic harm has been done to the government and people of Nigeria, and no amount of double speak can change that fact,” the petition read.

To support their claims, the petitioners attached an economic analysis of the refinery’s operations under five scenarios, based on average crude oil prices, refining costs, and petroleum product prices.

The analysis, they said, showed that even under the least favourable conditions, the refinery was generating a net profit of about $20 million monthly, with potential to reach $35 million once more units became fully operational.

“This refinery was making over N20 billion monthly and not losing money as falsely asserted. Even the most uneducated eye can spot this once they look at the economic analysis,” they added.

The petitioners urged President Tinubu to act swiftly by ordering an independent review to establish the true state of the refinery’s performance and ensure accountability in the management of national assets.