The Nigerian National Petroleum Company Limited (NNPC Ltd.) said it has begun a detailed technical and commercial review of its three major refineries in Port Harcourt, Warri, and Kaduna to determine their operational and financial viability.
The company disclosed this in an update shared on Wednesday via the verified X handle of its Group Chief Executive Officer, Mr. Bayo Ojulari (@BayoOjulari), describing the initiative as “the beginning of a new era in Nigeria’s refining sector.”
It said the review is part of a broader strategy to reposition the refineries as modern, revenue-generating assets capable of meeting Nigeria’s fuel needs and aligning with international best practices.
“We are filled with determination and looking ahead with optimism to ensure our refineries operate effectively.
“Our drive is fuelled by the understanding that the prosperity of Nigerian states and the success of our nation will always take precedence over individual interests,” the post read in part.
According to Ojulari, NNPC Limited is currently in the “Technical and Commercial Review” phase, aimed at assessing the operational state of all three refineries and determining whether to high-grade or repurpose the facilities for optimal performance and long-term sustainability.
“Where We Are: Ongoing technical and commercial review for comprehensive assessment of all three refineries, to high-grade or repurpose as may be required to ensure optimal performance and sustainability,” he said.
Ojulari stated that the exercise marks the beginning of a new phase in NNPC’s refinery rehabilitation journey, which aims to transform the facilities into globally competitive assets capable of meeting Nigeria’s domestic fuel demand.
“We are repositioning as a commercially driven, transparent energy company serving Nigerians,” he said.
The assessment, which involves both internal and external experts, is expected to guide decisions on technology upgrades, commercial models, and future production capacities.
The review, which involves both local and international experts, is expected to inform key decisions on technology upgrades, operational models, and commercial frameworks. NNPC plans to engage Technical Equity Partners — globally recognised operators with proven experience in running world-class refineries — to drive the next phase of the rehabilitation effort.
Ojulari revealed that discussions with potential partners were ongoing, with all engagements guided by strict technical and commercial benchmarks to ensure value for Nigerians.
“The next phase is to advance Technical Partnerships and select Technical Equity Partners who have a track record of operating refineries to international standards.
“Complete requisite agreements to mobilise towards implementing high-grade or repairs as required.”
The refinery rehabilitation project, the company noted, is central to Nigeria’s National Energy Strategy, which focuses on energy security, asset optimisation, and compliance with the Petroleum Industry Act.
It said the plan was designed to ensure compliance with the Petroleum Industry Act as the supplier of last resort for petroleum products in Nigeria, while also improving the operational efficiency and profitability of its refineries.
