By Olawale Lamina
The Nigerian National Petroleum Company Limited ,NNPC Ltd., has commenced a detailed technical and commercial review of its three major refineries in Port Harcourt, Warri, and Kaduna to determine their operational and financial viability.
NNPC Ltd.,disclosed this in an update shared on Wednesday via the verified X handle of its Group Chief Executive Officer, Mr. Bayo Ojulari (@BayoOjulari), stating that the review is part of a broader strategy to reposition the refineries as modern, revenue-generating assets capable of meeting Nigeria’s fuel needs as well as ensuring it’s operations are in tandem with international best practices.
The company described the planned review as “the beginning of a new era in Nigeria’s refining sector.”
The post partly reads: “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 company’s GCEO said that 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.
Simply put, high-grading a refinery means transforming an old, underperforming plant into a modern, efficient, and globally competitive facility — not just fixing what’s broken, but upgrading it to deliver better output and higher returns.
“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,” Ojulari said.
He added that the initiative 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.
He stressed that,“We are repositioning as a commercially driven, transparent energy company serving Nigerians.”
The assessment involves both internal and external experts, is expected to guide decisions on technology upgrades, commercial models, and future production capacities.
On Partnerships and technology upgrades
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.
He emphasized that engagement with potential partners were ongoing, with all interface guided by strict technical and commercial benchmarks to ensure value for Nigerians.
Ojulari said that, “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 company also added that the refinery rehabilitation project remains 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.
Nigeria has witnessed unimaginable setbacks in efforts to revamp its old national assets,depending billions of dollars on turnaround maintenance to no avail and to the disappointment of its curious citizens.
No long ago, billionaire business man and president of Dangote Refinery, Aliko Dangote expressed interest in taking over the ageing refineries.
Similarly, in August, oil marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) asked Ojulari, to either fix the Port Harcourt Refinery immediately or resign from his position.
It will be recalled that amidst assurances under the then NNPCL GCEO, Mele Kiyari, that the turnaround maintenance of the refineries would see them back on their feet working again, Nigerians were disappointed that none of the refinery could work effectively.
In June, the NNPCL under the new leadership officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-grade rehabilitation and retention of the plant.
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