Former Vice President Atiku Abubakar has called for the immediate suspension of the Nigerian National Petroleum Company Limited’s technical equity partnership with two Chinese firms.
Atiku made the demand in a statement issued by his media aide, Phrank Shaibu, on Friday.
The former vice president described the agreement involving Sanjiang Chemical Company Limited and Xingcheng Industrial Park Operation and Management Co. Ltd. as a risky move.
He accused the administration of President Bola Tinubu of attempting to mortgage national assets through arrangements that lacked transparency and accountability.
“We are demanding an immediate suspension and public scrutiny” of the deal, Atiku said.
He argued that neither Chinese company possessed the technical experience required to manage or rehabilitate complex refineries such as the Port Harcourt and Warri facilities.
According to him, Sanjiang Chemical focuses mainly on petrochemical processing rather than crude oil refining.
He also questioned the competence of Xingcheng, which he described as an industrial park management company without proven refinery experience.
Furthermore, Atiku criticised the Federal Government and the NNPC for bypassing established global refinery engineering firms.
He warned that the partnership could turn Nigeria’s refineries into “another expensive black hole of failed promises.”
The former vice president also raised concerns about the financial health of Sanjiang Chemical.
He claimed reports showed declining revenues and growing debt exposure within the company.
Atiku said Nigerians should not accept opaque agreements involving critical national assets.
“The era where NNPC signs opaque agreements abroad and expects Nigerians to clap blindly is over,” he said.
