NNPCL to engage new partners for refinery repairs
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bashir Bayo Ojulari, has disclosed that the company is reviewing the technical performance of its refineries ahead of plans to bring in new partners for their rehabilitation. Ojulari, in a post on his official X handle, said the ongoing technical and […]
NNPCL GCEO, Bayo Ojulari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bashir Bayo Ojulari, has disclosed that the company is reviewing the technical performance of its refineries ahead of plans to bring in new partners for their rehabilitation.
Ojulari, in a post on his official X handle, said the ongoing technical and commercial assessments would determine whether the refineries would undergo “high-grade repairs or repurposing to ensure optimal performance and sustainability.”
The move marks a shift from Ojulari’s earlier stance suggesting that the refineries might be sold, following years of failed rehabilitation efforts and billions of dollars spent without tangible results.
According to him, the next phase of the review will focus on selecting technical equity partners with proven expertise in running refineries to international standards.
He added that once selected, these partners would finalise necessary agreements and mobilise for the execution of the repair or upgrade plans.
Ojulari said NNPCL’s broader objective is to strengthen energy security and enhance its capacity to meet the Petroleum Industry Act (PIA) requirements as the “supplier of last resort” for petroleum products.
“We are repositioning as a commercially driven, transparent energy company serving Nigerians. Our determination is unwavering.
“We’re conducting a detailed review and are eager to implement sustainable solutions that will make our refineries efficient and profitable,” he said.
He added that NNPCL’s commitment is guided by the belief that Nigeria’s prosperity and energy future must take precedence over individual or corporate interests.