- Tony Cole criticized Nigeria’s non-functional refineries, calling it a national disgrace for an oil-producing country like Nigeria
- He emphasized the economic benefits of operational refineries, stating they stimulate local businesses and create job opportunities in communities
Tonye Cole, the All Progressives Congress (APC) gubernatorial candidate in the 2023 Rivers State election, has described Nigeria’s moribund refineries as a significant national embarrassment.
Speaking during an interview on Channels TV’s Politics Today on Tuesday, Cole reflected on the state of the country’s refining sector and recent developments at the Port Harcourt Refining Company (PHRC) Ltd, which has commenced crude oil processing.
Cole emphasized the economic ripple effect of functional refineries, stating that operational refineries boost surrounding business activities.
When you have refineries working, businesses will keep going. Even at Mami markets, people selling water and other goods benefit from the activity. Industrial estates generate opportunities for everyone, he said.
He lamented Nigeria’s inability to maintain its refineries, labeling it a disgrace for a top oil-producing country.
It has been one of the biggest shames that we are an oil-producing nation but have refineries that are not working. Nigeria ranks among the top seven oil producers globally, yet our refineries remain non-functional. It’s a big shame.”
Cole noted that while the emergence of private refineries, such as the Dangote Refinery, is a step forward, it doesn’t eliminate the need for government-owned refineries to function effectively.
When private refineries came in, it was good. But the question remains: what happened to our own refineries? Fixing this is critical to restoring national pride.
Acknowledging the progress at the PHRC, Cole expressed optimism about Nigeria’s refining sector but stressed the importance of sustaining momentum.
With the Port Harcourt refinery beginning production, we are moving in the right direction. Now, we must ensure that we don’t regress to zero production again.
Cole highlighted the importance of competition in the refining sector to drive efficiency and lower costs for Nigerians.
On one hand, you have the Dangote Refinery doing what it’s expected to do. But competition is critical. That’s the only way prices will come down and consumers will benefit.
Cole concluded by urging consistent efforts to ensure Nigeria’s refineries operate optimally, complementing private sector initiatives to strengthen the country’s energy security and economic growth.