Nigeria Law
Oil Boom — Failures & Good Spending

Jonathan2010 — 14Documented failure· Refineries idle· Chapter I · Money

Turn-Around Maintenance — Refineries

Port Harcourt, Warri, Kaduna refineries: multiple TAM contracts; combined utilisation rarely exceeds 30%. Crude swap and DSDP arrangements substituting throughout.

Multiple Turn-Around Maintenance contracts were awarded for the four state refineries (Port Harcourt I & II, Warri, Kaduna). Combined utilisation rarely exceeded 30% capacity; refineries were effectively idle from 2019. Crude-for-product swaps (OPA, then DSDP) substituted for domestic refining.

Sources

  • · NNPC Monthly Operations Reports
  • · Ribadu Petroleum Revenue Task Force Report (2012)

What it cost — political & economic reality

The political and economic reality

Nigeria in 2012: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.

President · Fourth Republic

Dr. Goodluck Ebele Jonathan

2010–2015· PDP

National reality

GDP rebasing April 2014 made Nigeria Africa's largest economy. Chibok abduction 14 April 2014 (276 girls). Sovereign Wealth Fund established 2012. Fuel-subsidy protests January 2012. Lost the 2015 election — first incumbent defeated.

Crises of the period

  • #OccupyNigeria fuel-subsidy protests (Jan 2012)
  • Chibok abduction (Apr 2014)
  • Boko Haram caliphate at peak (2014)
  • Oil price crash from mid-2014

GDP (World Bank)

$369 bn (2010) → $546 bn (2014, post-rebasing — largest African economy)

Cabinet (selected portfolios)

  • Finance

    Ngozi Okonjo-Iweala (Coordinating Minister of the Economy)

  • Education

    Ruqayyatu Ahmed Rufa'i; Ibrahim Shekarau

  • Petroleum

    Diezani Alison-Madueke

Source: Federal Gazette 2010–15; NBS GDP rebasing report 2014

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Redline

Wikipedia is never a source.