Former Vice President Atiku Abubakar has called for the immediate suspension and public review of the “Technical Equity Partnership” recently announced by Nigerian National Petroleum Company Limited involving two Chinese firms, Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd.
In a statement released through his media aide, Phrank Shaibu, Atiku described the agreement as a risky move that could further endanger Nigeria’s economic interests. He accused the administration of President Bola Tinubu of pursuing secretive arrangements lacking transparency and technical credibility.
The former presidential candidate questioned the competence of the two Chinese firms selected for the rehabilitation of the Port Harcourt and Warri refineries. According to him, Sanjiang Chemical mainly operates in petrochemical production and light hydrocarbon processing, with no publicly known record of managing or operating large-scale crude oil refineries.
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He also criticised Xingcheng, describing it as an infrastructure and industrial park management company without proven expertise in refinery engineering or petroleum processing.
Atiku argued that after spending billions of dollars on failed refinery rehabilitation projects, the Federal Government should engage globally recognised engineering and refinery management firms instead of companies with questionable experience.
He warned that the partnership could turn the nation’s refineries into another costly failure driven by poor planning and lack of accountability. The former Vice President further alleged that financial concerns surrounding Sanjiang Chemical raised doubts about the company’s ability to handle such major projects.
