The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to partner with equity investors to revive the country’s non-operational refineries.
Group Chief Executive Officer, Bayo Ojulari, said the company is seeking credible technical partners with proven experience in refinery operations to help restore the facilities to full capacity.
Ojulari explained that the partnership strategy would enable the state-owned oil company to ensure sustainable operations and reduce Nigeria’s reliance on imported petroleum products. “We are looking ahead with optimism to ensure our refineries operate effectively. We are dedicating significant time to a detailed review and are eager to implement our insights,” he said.
The NNPCL boss added that one of the options under consideration is to high-grade or repurpose the refineries, making them capable of meeting global performance and safety standards. He emphasized that the collaboration with equity partners would ensure the plants operate as commercially viable ventures rather than relying solely on government funding.
Nigeria’s refineries in Port Harcourt, Warri, and Kaduna, which collectively have a refining capacity of about 445,000 barrels per day, have been largely inactive for years despite previous rehabilitation efforts. Under former Group CEO Mele Kyari, NNPC awarded contracts worth over $2.5 billion for refurbishment projects, but the plants have yet to resume operations.
Ojulari stated that the new leadership is determined to change that narrative by introducing reforms that would make the facilities self-sustaining. “Our focus is not just on restarting operations but ensuring long-term efficiency and profitability through strategic partnerships,” he said.
Industry experts believe the move could help Nigeria achieve energy security and reduce its heavy dependence on fuel imports. They also noted that NNPCL’s decision aligns with the government’s broader goal of positioning the country as a regional hub for refined petroleum products.
