The Nigerian National Petroleum Company Limited (NNPC) spent the better part of three decades and tens of billions of dollars on three refineries it built, owns outright and runs by itself. Port Harcourt, Warri and Kaduna remain, after repeated rounds of "rehabilitation," largely moribund.
That wasted solo experiment, which has cost Nigeria about N3.2 trillion recently with nothing to show, is colliding with a very different outcome from a far more recent bet, where a minority in ownership but large in outcome, partnership-style investment i
