The Nigerian National Petroleum Company (NNPC) Limited says it is in talks to partner with a professional refinery operator as part of efforts to fix the country’s long-running refining crisis.
Group Chief Executive Officer, Bayo Ojulari, revealed this on Thursday while hosting the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the NNPC Towers in Abuja.
Ojulari said technical assessments of Nigeria’s three refineries had been completed, while a commercial review of the Port Harcourt Refinery confirmed the need for a more sustainable business model.
“We need to bring in a true professional refinery company to partner with us. Years of neglect made the refineries unviable, losing N300m–N500m monthly,” he said.
He explained that NNPC once pumped 50,000 barrels of crude daily into a refinery but got less than 40% output, forcing the company to suspend operations.
Ojulari dismissed claims of political interference, stressing that President Bola Tinubu had not pressured NNPC to resume operations prematurely.
“There was no political pressure to keep running at a loss. We froze operations to get it right,” he added.
On recent protests and calls for his removal, the NNPC boss alleged a coordinated campaign against him but insisted he remained focused on delivering results.
PENGASSAN President, Festus Osifo, praised Ojulari’s leadership, citing improved pipeline functionality and higher oil production.
“We are producing 1.8 million barrels daily now, and our target is 2.6 million by 2026,” Osifo said.
