The Manufacturers Association of Nigeria (MAN) has called on the federal government to privatise all the government-owned refineries to ensure efficient management.

Director-General of MAN, Segun Ajayi-Kadir, made the call while speaking on television programme, expressed confidence that the full potentials of the refineries would be achieved under the management of private investors, adding that the private sector has shown greater capacity to drive efficiency and energy security.

He charged the federal government to fully privatize the country’s four national refineries, insisting that the private sector has shown greater capacity to drive efficiency and energy security, citing the performance of the Dangote Refinery as proof that the government has “no business” in refining.

According to him, the removal of fuel subsidies is turning out to be a blessing in disguise, noting that while initially harsh on manufacturers, it has paved the way for broader reforms in the energy sector. He stressed that the Dangote Refinery has helped reduce logistics costs, cut out profiteering middlemen, and increase the availability of petroleum products.

“Before now, Nigeria was exporting crude and importing refined fuel – a tragic mismatch for a country rich in oil. But with local refining now gaining traction, especially through private efforts, we’re seeing prices come down and supply chains improve,” he said.

Ajayi-Kadir dismissed concerns about monopoly, noting that the real issue lies in the inefficiency of other players rather than the dominance of one, adding that “we should focus on performance and the value delivered to consumers”.

He argued that energy costs account for over 40 per cent of manufacturing expenses, and any improvement in supply – particularly through local production of diesel and compressed natural gas – would lower production costs and revive small and medium businesses.

“The government should incentivize serious investors and step back from operating businesses. The cost of maintaining inefficient state-owned refineries is unfair to the Nigerian people,” the MAN DG stated.