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Expert Warns of Economic Discipline in Refinery Revivals

Petroleum economist Wumi Iledare has cautioned the Federal Government that the revival of Nigeria’s state-owned refineries requires strict economic discipline rather than political maneuvering. While acknowledging President Bola Tinubu’s pledge to restore sustainable operations, Iledare emphasized that profitability, transparent management, and a competitive business model are essential to avoid repeating historical cycles of costly, failed rehabilitation. He specifically advocated for clear timelines, operational autonomy, and guaranteed access to competitively priced crude oil feedstock to ensure the facilities function as viable commercial assets rather than public financial burdens.

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