LunagisthubNNPC Rules Out Sale of Port Harcourt Refinery, Commits to Rehabilitation
The Nigerian National Petroleum Company Limited (NNPC Ltd) has denied speculations about the sale of the Port Harcourt Refining Company, stating that the facility is not for sale and that it is committed to completing its high-grade rehabilitation. This announcement comes after widespread speculation following comments made by the Group Chief Executive Officer, Bashir Bayo Ojulari, during the 2025 OPEC Seminar in Vienna, Austria.
NNPC Ltd has emphasized its commitment to the rehabilitation of the Port Harcourt refinery, citing the need for more advanced technical partnerships to complete the project. The company has acknowledged that the earlier decision to operate the refinery prior to full completion of its rehabilitation was “ill-informed and sub-commercial.”
The NNPC Ltd has reinforced its mandate as a strategic custodian of national energy infrastructure, signaling continuity in the Federal Government’s broader energy security objectives. The company remains committed to retaining critical assets under national control and delivering on the complete rehabilitation and long-term viability of Nigeria’s refineries.
The NNPC Ltd’s commitment to rehabilitating the Port Harcourt refinery is a positive step towards improving Nigeria’s energy security. By retaining control of the refinery and investing in its rehabilitation, the company is working towards ensuring the long-term viability of the facility and contributing to the country’s economic growth.
Lunagisthub
