The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has reaffirmed the company’s resolve to revive the government-owned refineries in Port Harcourt, Warri, and Kaduna.
Speaking on Wednesday at the Energy and Labour Summit organised by the Petroleum and Natural Gas Senior Staff Association of Nigeria in Abuja, Ojulari dismissed doubts expressed by Dangote Group President, Aliko Dangote, who suggested the refineries might never work again.
Ojulari stressed that the NNPC remains committed to restoring the facilities, insisting that the interest of the Nigerian state and the nation’s future must take precedence over individual opinions.
The three refineries have remained largely dormant for years despite repeated rehabilitation efforts. The Port Harcourt and Warri plants, which were briefly reopened last year, were subsequently shut down again for further maintenance work.
The organised private sector, including the Manufacturers Association of Nigeria, petroleum marketers, and other stakeholders, have repeatedly urged the government to sell off the refineries. However, Ojulari dismissed the calls, maintaining that the NNPC remains committed to reviving them.
In July, Aliko Dangote had criticised the state of the refineries, noting that they had consumed as much as $18 billion under NNPC’s management without delivering results. Ojulari himself had earlier acknowledged the concern in an interview with Bloomberg in Vienna, Austria, where he admitted that despite the heavy investments, the refineries had yielded little. He added that ongoing reviews would help the NNPC chart a new course and adopt a different approach.
However speaking at the PENGASSAN summit on Wednesday, the NNPC boss said, “And as you know, we are determined! We are determined to make sure that our refineries work. We’ve been spending a lot of detailed reviews (sic), taking all the learnings.
“We are driven by the fact that the Nigerian states and the future of Nigeria’s success is above any individual of us. That’s what drives our determination to ensure that we put a solution that is sustainable for our refineries.”
Ojulari had earlier ruled out the sale of the Port Harcourt refinery, reiterating his commitment to completing what he described as “high-grade rehabilitation” and retaining the plant. Speaking at a company-wide town hall meeting at the NNPC Towers in Abuja, he explained that the position was not a policy shift but was guided by ongoing technical and financial reviews of the Port Harcourt, Kaduna, and Warri refineries.
In a pointed remark that appeared to indict past NNPC leadership, Ojulari noted that “the ongoing review indicates that the earlier decision to operate the Port Harcourt refinery prior to full completion of its rehabilitation was ill-informed and sub-commercial.”
The statement read further, “Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery. Thus, selling is highly unlikely, as it would lead to further value erosion.”
“The announcement came in the wake of widespread speculation following his remarks at the 2025 OPEC Seminar in Vienna, Austria, earlier this month, where he said during an interview with Bloomberg that “all options are on the table.”
Ojulari Reaffirms Plan to Revive Port Harcourt, Warri, Kaduna Refineries
The Port Harcourt refinery, which was shut down on May 24 for a scheduled one-month maintenance, has remained closed nearly two months later. Petroleum marketers have repeatedly criticised Ojulari over the state of the refineries, pointing out that he has yet to visit any of the facilities since assuming office four months ago.
