NNPCL to partner global investors in fresh push to revive Nigeria’s idle refineries — Ojulari
The Nigerian National Petroleum Company Limited (NNPCL) says it is seeking technical and equity partners to participate in the revival and sustainable operation of its three major refineries in Port Harcourt, Warri, and Kaduna as part of a renewed effort to end the country’s long-standing dependence on imported fuel.
Group Chief Executive Officer of NNPCL, Bayo Ojulari, announced the plan in a statement posted on his official X (formerly Twitter) handle on Thursday, noting that the strategic partnership approach is designed to ensure that the refineries run efficiently and remain commercially viable.
“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, ” Ojulare wrote.
He explained that the company was actively engaging with potential investors with proven technical and operational experience in refinery management, with a focus on improving productivity, transparency, and profitability.
The refineries, which have a combined production capacity of 445,000 barrels per day, have been largely non-operational for years, despite multiple rehabilitation efforts.
Once fully restored, the NNPCL said the plants, alongside the privately owned Dangote Refinery, would collectively position Nigeria as a net exporter of refined petroleum products.
Ojulari’s announcement followed years of costly but unproductive investments aimed at reviving the moribund refineries.
Under former GCEO Mele Kyari, the NNPC had entered into rehabilitation contracts valued at about $2.5 billion, involving international engineering firms and local contractors.
However, despite initial optimism, progress remained slow, prompting the new management to explore public-private partnership (PPP) and equity participation models that would bring in technical expertise and fresh capital.
The NNPCL boss emphasised that the company’s goal was to ensure a “self-sustaining refining system” capable of meeting local demand and supporting Nigeria’s economic diversification agenda.
“Our objective is not just to restart operations but to run efficiently, transparently, and profitably.
“We are aligning our strategy with President Tinubu’s vision for energy independence and industrial revitalisation, ” he said.
The move comes amid growing calls from stakeholders for accountability and innovation in Nigeria’s downstream oil sector, as the government pushes ahead with its post-subsidy reforms and the establishment of a fully deregulated petroleum market.
Industry experts believe that successful partnerships could significantly reduce the nation’s foreign exchange pressure by curbing the importation of Premium Motor Spirit (PMS), diesel, and aviation fuel.
