Nigeria TV Info reports: Alhaji Aliko Dangote has declared that Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna may never function properly again, despite about $18 billion spent on their rehabilitation over the years.

Speaking while hosting members of the Global CEO Africa at the Dangote Refinery, he recounted how his group once bought the refineries in 2007, but returned them due to a government change. He said the late President Yar’Adua was advised by the then NNPC MD that the refineries could be revived, but despite massive spending since then, they remain non-functional.

Dangote likened the rehabilitation efforts to trying to modernize a 40-year-old car, stressing that even if the engine is changed, the car’s structure may not handle the shock. He questioned the viability of such efforts.

Former President Obasanjo had earlier echoed similar views, stating that investors, including Dangote, had paid $750 million to acquire the refineries before Yar’Adua reversed the sale, insisting NNPC could manage them—a belief Obasanjo strongly opposed.