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Bold vision promises new dawn for Nigeria’s ailing petrochemical industry
Estimated to hold 37 billion barrels of proven oil reserves, Nigeria is the second biggest oil-rich country in Africa, after Libya. The exploitation of these resources has been in the hands of the Nigerian National Petroleum Corporation (NNPC) that was established in 1977 as a merger of the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel. NNPC by law manages the joint venture between the Nigerian Government and international oil companies such as Shell, Agip, ExxonMobil, Total and Chevron.
Despite its rich resources, at present Nigeria’s state-dominated oil industry is declining, afflicted by systemic corruption, starved for international investment, and hit hard by weak oil prices. Despite that malaise, oil remains the country’s chief source of income.
A choice of paths
What many considered a watershed moment for the industry occurred earlier this year in the country’s election with two conflicting strategies for the development of the industry put forward by the two candidates.
The incumbent, Muhammadu Buhari’s planned to retain a nationalized oil industry under the NNPC banner while the vision of his opponent, Atiku Abubakar, was to sell off aging refineries to private buyers to liberalise the economy. In the end Buhari won a tight contest.
The importance of the oil and gas sector for the state cannot be underestimated with more than half of its revenue along with 85 per cent of its export revenue coming from the sector. Despite the 40 billion barrels of oil under its control, Nigeria’s ageing infrastructure can only produce around 2.5 million barrels of crude oil per day.
Adding to this malady is the state of its mid-stream and downstream infrastructure that many believe is in even worse condition than its upstream assets. The refineries dotted around the Niger Delta region are at present producing less than half of the 500,000 barrel per day capacity, with this figure dropping to almost ten per cent late last year.
New beginnings for NNPC
The man charged with implementing the president’s policy is Mallam Mele Kolo Kyari, who took on the role of group managing director of the Nigerian National Petroleum Corporation (NNPC) early this year. He quickly vowed to reverse the trend of petroleum imports into Nigeria by improving the existing refineries and encouraging private sector investment in the refineries.
“We must end the trend of fuel importation as an oil producing country,” he said at a press conference shortly after taking on the role. “We will deliver on the rehabilitation of the four refineries within the life of this administration and support the private sector to build refineries. We will support the Dangote refinery to come on stream on schedule and we will transform Nigeria into a net exporter of petroleum products by 2023”.
He added that the government’s target of raising crude oil production and reserves to three million barrels per day and 40 billion barrels respectively was possible and that he would galvanise the corporation to achieve it by 2023.
When it comes to rooting out the corruption that has plagued the industry in Nigeria he pointed out how much NNPC had changed over the past three years from the old image of a corruption-laden organisation, stressing that he would continue to entrench the culture of accountability in the affairs of the corporation.
“We are going to work to remove every element of discretion from our processes, because discretion is one of the greatest enablers of corruption”, he said. “NNPC will not be opaque, we’ll be transparent to all so that at the end of the day everyone will be in a position to assess us and say what we have done right or wrong”.
Support from OPEC
The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammed Sanusi Barkindo, has commended the NNPC for its ongoing reforms aimed at changing the fortunes of the corporation for the better.
“I am glad that you continue to march on with your projects despite the downturn in the Industry, he said. “We have seen the Industry globally suffer in terms of contraction in investment which affected capacity. You have not only been able to stay on course, but you also continue with these projects which are critical for the development of the corporation and the industry in Nigeria.”
“To lead such a sensitive and capital-intensive industry like oil and gas, you must have transparency and accountability as one of your core principles in order to drive change. I am glad I have known Mele Kyari for a very long time. He is a very capable and straightforward individual with a high level of integrity even as a very junior officer. So, he has a track record. I remain confident that together with his team, and with the support of government, he will accomplish the task”.
Building a Nigerian giant
Key to this strategy of reducing imports is the Dangote refinery that is under construction near Lagos. The 650,000 barrels per day (bpd) integrated refinery and petrochemical project will be Africa’s biggest oil refinery and the world’s biggest single-train facility upon completion in 2020. The facility will be able to process a variety of light and medium grades of crude to produce Euro-V quality clean fuels including gasoline and diesel as well as jet fuel and polypropylene.
Nigeria in focus at Africa Oil Week
Relations between South Africa and Nigeria have been strained in recent months after several days of riots in South Africa in September that mainly targeted foreign-owned, including Nigerian, businesses.
But following a visit to South Africa by Nigeria’s President Muhammadu Buhari tensions have eased. A further sign of the improving relationship is the visit of Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, to Africa Oil Week (Africa-OilWeek.com), the minister proclaiming himself being excited to be travelling to South Africa.
As the largest upstream event on the continent, Africa Oil Week has enjoyed attendance from the industry’s highest-level decision makers for over 25 years. This year is no different, with Nigeria’s brand new NPCC GMD making his international debut at the 2019 conference in Cape Town this November (4-8).
Mallam Melee Kyari will be setting out the future vision of the NNPC under his leadership and participating in a session titled ‘Atlantic Transform Margin (Liberia to Nigeria)’, where he will provide a deep insight into the current operating landscape in some of the most highly sought-after regions.
A former Deputy Governor of Oyo State, Chief Moses Alake Adeyemo, has been sworn in as the Chairman of the Oyo State chapter of the All Progressives Congress (APC), urging members of the party to rally support for President Bola Tinubu ahead of the 2027 general elections.
Adeyemo formally assumed office on Friday following the inauguration of the newly elected State Executive Committee members who will manage the affairs of the party in the state for the next four years.
The inauguration ceremony, held at the party’s State Secretariat in Oke-Ado, Ibadan, marked the climax of the party’s 2026 congresses in the state.
The South-West Zonal Legal Adviser of the APC, Kolawole Majaro, administered the oath of office on Adeyemo and 35 other members of the State Executive Committee.
The executives had emerged through a consensus arrangement during the March 3, 2026 state congress held at the Obafemi Awolowo Stadium, Ibadan, under the supervision of a committee led by Amos Gombi from the APC National Secretariat in Abuja.
In his acceptance speech, Adeyemo described his emergence as a renewed call to service, pledging to strengthen the party and sustain unity among members.
He appreciated party leaders within and outside the state for ensuring a smooth and successful congress process.
Adeyemo also commended members of the Local Organising Committee, particularly Fatai Ibikunle and Afeez Bolaji Repete, for their contributions to the success of the exercise.
He said, “This new State Executive Committee under my leadership is being put in place to add value and strengthen our great party in view of the challenges ahead.
“We have used the opportunity of the congresses to showcase our collective commitment to unity and harmony as progressives and democrats.”
The new chairman expressed optimism that the atmosphere of peace within the party would be sustained ahead of future party primaries and the 2027 elections.
According to him, the party’s target is to secure 90 per cent of the votes in Oyo State for President Tinubu while also reclaiming the state’s Government House in 2027.
Adeyemo praised the President’s leadership, saying the administration was delivering on its promises.
“President Tinubu is, no doubt, performing beyond our expectations and the best way to appreciate his good work is to retain him in Aso Rock until 2031,” he said.
“Against all odds, the President is pursuing his Renewed Hope Agenda with vigour and passion, while the positive results are being felt across sectors of the economy and national life.”
Other members of the newly inaugurated executive include Taofeek Lamidi as Deputy Chairman, Fatai Adesina as State Secretary, Adekemi Opatunde as Woman Leader, Olawale Sadare as Publicity Secretary, Olalekan Oladejo as Youth Leader, and Remi Adepoju as Organising Secretary.
Also inaugurated were Ajiboye Akinsanya as Treasurer, Sunday Aborisade as Legal Adviser, Tinuade Adigun as Auditor, Lukman Owonikoko as Assistant State Secretary, Fatimah Hassan as Deputy Woman Leader, and Jimoh Osundara as the Leader of Persons Living With Disabilities, among others.
The Kano State House of Assembly has initiated impeachment proceedings against Deputy Governor Aminu Abdussalam Gwarzo over allegations of gross misconduct, abuse of office, and breach of public trust.
The notice was presented yesterday during plenary by the Majority Leader, Lawan Hussaini Dala, who said the action follows Section 188 of the 1999 Constitution of the Federal Republic of Nigeria.
Dala said the allegations stem from Abdussalam’s tenure as Commissioner for Local Government (2023–2024) and his current role as deputy governor. He accused the deputy governor of diverting funds meant for the 44 local government councils.
According to the majority leader, Abdussalam allegedly received N1.5 million monthly from each council between June 2023 and January 2024, totaling N462 million. Between February and July 2024, he allegedly collected N3.255 million monthly from each council under the guise of special assignments, amounting to N726 million.
Dala also accused the deputy governor of abuse of office, claiming he facilitated payments of N10 million from each council to NovoMed Pharmaceuticals Limited, totaling N440 million, in violation of state procurement laws.
“The misuse of official capacity to confer undue advantage constitutes abuse of power and undermines public trust,” Dala told lawmakers, adding that the allegations amount to gross misconduct under the Constitution.
The impeachment notice was reportedly endorsed by 38 lawmakers, meeting the constitutional threshold to proceed. The Speaker has acknowledged receipt, and the House is expected to serve the allegations on the deputy governor.
If approved, a panel may be constituted by the state Chief Judge to investigate the claims.
As of filing, Abdussalam had yet to respond publicly to the allegations.
The Senator representing Bayelsa West, Seriake Dickson, on Thursday announced his resignation from the Peoples Democratic Party (PDP), declaring that he had joined the newly registered Nigeria Democratic Congress (NDC).
Dickson, a former governor of Bayelsa State, made the announcement during a media briefing in Abuja, attributing his decision to what he described as irreconcilable differences within the PDP.
The lawmaker said the emergence of the NDC would strengthen Nigeria’s democratic system by providing a credible opposition platform.
According to him, the party recently received its certificate of registration from the Independent National Electoral Commission.
He said, “Last week INEC issued a certificate of registration and we now have the newest party in Nigeria known as the Nigeria Democratic Congress and our symbol is victory, the victory sign.
“So, my dear Nigerians, you now have a credible alternative opposition party known as the Nigeria Democratic Congress.”
Dickson noted that although the party’s registration took longer than expected, its eventual approval was a welcome development for the country’s democratic landscape.
“Yes, it is coming at this time. We would have wished it started some years or months back. We don’t control INEC and their processes; they delayed. We don’t also control the judiciary, but thank God it has finally arrived,” he said.
The senator also stressed that Nigeria’s democracy must not slide into a one-party system, insisting that political diversity remained vital for national stability.
“This nation cannot be a one-party state. Nigeria cannot be a one-party state. Nigeria is not designed to be a one-party state.
“We are a very diverse nation culturally, religiously and politically and that is the beauty of our country.
“So anyone or any party promoting one-party rule in Nigeria is mistaken. We build political parties and get involved in movements to access power for the good of the people, not for our personal benefit,” he added.
Meanwhile, the Independent National Electoral Commission recently announced the registration of two new political parties.
The parties are the Democratic Leadership Alliance and the Nigeria Democratic Congress, bringing the total number of registered political parties in Nigeria to 21.
The announcement was made by the INEC Chairman, Prof. Joash Amupitan, during the commission’s first quarterly consultative meeting with political party stakeholders for 2026.
According to him, the Democratic Leadership Alliance completed the required verification process, while the Nigeria Democratic Congress was registered in compliance with a Federal High Court order.
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