The Nigerian National Petroleum Company (NNPC) Limited says it is seeking technical equity partners to help revive three of its state-owned refineries, which have remained non-operational despite past rehabilitation spending.
Group Chief Executive Officer of NNPC, Bayo Ojulari, disclosed this in a post on X on Thursday, noting that the move is part of renewed efforts to ensure the refineries run efficiently and sustainably.
The refineries, located in Port Harcourt, Warri and Kaduna, have a combined installed capacity of 445,000 barrels per day. With the ongoing ramp-up in operations at the Dangote Petroleum Refinery, a successful revival could enable Nigeria to end petrol imports and potentially become a net exporter of refined 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,” Ojulari said.
The latest move follows earlier rehabilitation efforts under former NNPC GCEO, Mele Kyari, who secured external partnerships valued at $2.5 billion for refinery upgrades. However, full operational restart has been delayed, prompting calls for new financing and operational models.
Industry analysts say the proposed equity partnership approach suggests a shift toward private sector-led management, which may offer improved efficiency and accountability compared to previous government-led refurbishments.
If successful, the initiative could significantly reduce Nigeria’s dependence on imported fuel, improve foreign exchange stability, and strengthen domestic energy security.
