The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has publicly defended the expenditures made towards the rehabilitation of the Port Harcourt Refinery, asserting that these funds are not squandered and that the refinery could be operational within just one week if the Nigerian National Petroleum Company Limited (NNPC) decides to proceed with it. This statement comes in the wake of criticism regarding the financial management of state-owned refineries. PENGASSAN President Festus Osifo spoke on Channels Television's The Morning Brief, indicating that the union had been warning about the degradation of the refinery’s value for nearly two decades and expressed no surprise at its current state of disrepair.

The commentary follows acknowledgments from NNPC's Group Chief Executive Officer Bayo Ojulari, who labeled the refineries as significant financial burdens on the nation, noting that they are experiencing monumental losses. The union's endorsement of a business model similar to that of the Nigeria Liquefied Natural Gas (NLNG) has been renewed, suggesting that adopting this model could potentially revitalize Nigeria's struggling state-owned refineries. This reflects ongoing discussions about the best strategies for not only maintaining these facilities but also ensuring they can operate sustainably in providing national energy needs.

The implications of this debate are significant, as it touches on the accountability of public spending and the efficiency of Nigeria's oil sector amidst a broader context of economic challenges. With the nation relying heavily on its oil revenues, the management and rehabilitation of refineries like Port Harcourt are critical to reducing dependency on imported fuels and achieving energy security. The call for reform and potential model adoption may pave the way for substantial changes in the operational frameworks governing these essential national resources.