Nigeria’s state-owned oil giant, NNPC Ltd, is actively searching for technical and equity partners to help revive its long-dormant refineries, which have remained idle despite years of heavy investment. The company’s chief executive, Bayo Ojulari, announced the move on Thursday, signaling a renewed push to restore domestic fuel production and reduce the country’s dependence on costly fuel imports.
The three refineries—located in Port Harcourt, Warri, and Kaduna—have a combined processing capacity of 445,000 barrels per day. Once operational, they are expected to complement the privately owned Dangote Petroleum Refinery, positioning Africa’s largest oil producer to finally achieve energy self-sufficiency and even emerge as a net exporter of refined products.
“We are working with optimism and precision to ensure our refineries operate efficiently once again,” Ojulari said in a post on X (formerly Twitter). “Extensive technical assessments are underway, and we’re committed to implementing the best solutions to deliver results.”
Ojulari’s comments come after his predecessor, Mele Kyari, secured $2.5 billion in rehabilitation contracts aimed at restoring the aging facilities. Despite those investments, none of the refineries have returned to production, largely due to structural inefficiencies and the government’s difficulty in offloading underperforming assets.
Analysts say NNPC’s latest partnership drive reflects a growing recognition that private-sector expertise and capital are essential for turning the refineries around. If successful, the collaboration could significantly cut Nigeria’s multibillion-dollar annual fuel import bill and strengthen its fiscal position in the face of volatile oil markets.
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The NNPC’s refinery revival plan is being closely watched both domestically and abroad, as it could mark a turning point in Nigeria’s decades-long struggle to fully harness its oil wealth for sustainable growth.
Source:Africa Publicity
