NNPC Denies Plans to Sell Port Harcourt Refinery, Reaffirms Ongoing Rehabilitation Efforts

The Nigerian National Petroleum Company Limited (NNPC Ltd) has refuted claims suggesting it plans to sell the Port Harcourt Refinery, stating that such reports are false and do not reflect the company’s current position.

In a statement released on Tuesday, NNPC emphasized its continued commitment to the rehabilitation and eventual full resumption of operations at the facility. This clarification comes amid recent public speculation following remarks made by NNPC’s Head of Refineries and Petrochemicals, Bayo Ojulari, who said all options remain on the table as the company conducts a strategic review of its refinery assets, including those in Port Harcourt, Warri, and Kaduna. However, the company stressed that no decision has been made to sell the Port Harcourt plant. Ojulari noted that the review, expected to be completed by the end of 2025, will guide the final decision on whether to retain, concession, or consider private sector involvement in managing the refineries. The Port Harcourt Refinery, which resumed limited operations in November 2024 after a prolonged shutdown and extensive rehabilitation work, was shut down again in May 2025 for additional technical adjustments. Despite over ₦6.5 trillion spent on refinery rehabilitation in the past decade, Nigeria’s three government-owned refineries have failed to consistently produce refined petroleum products, prompting calls from industry experts and stakeholders for their privatization or concessioning. However, the NNPC maintains that the Port Harcourt Refinery remains a strategic national asset and is not currently up for sale. The company assured the public that the ongoing review will be transparent and aligned with Nigeria’s long-term energy security and economic goals.