The Nigerian presidency has revealed that the country is in the process of fully privatising government-owned refineries, including the Port Harcourt, Warri, and Kaduna facilities. This was revealed by Sunday Dare, the President’s Special Adviser on Media and Public Communications, in a statement shared on Sunday via his official X (formerly Twitter) account.
The update highlighted key achievements in the oil sector and outlined plans for restructuring the nation’s refineries.
The statement confirmed that efforts to privatize the refineries are underway, although no specific timeline for completion was provided. Nigeria’s four state-owned refineries have remained largely non-functional for decades, despite massive investments amounting to trillions of naira in maintenance and rehabilitation.
This prolonged inefficiency has made the country heavily reliant on imported petroleum products, straining its foreign exchange reserves and contributing to periodic fuel shortages.
Dare expressed confidence that the initiative would ultimately lead to self-sufficiency in local refining, alleviating fuel scarcity and eliminating queues at petrol stations. He stressed that achieving domestic refining capacity is key to resolving the country’s long-standing energy challenges.
In August 2024, the Nigerian National Petroleum Company (NNPC) Limited announced plans to involve private operators in managing the Kaduna and Warri refineries.
Through a circular shared on its official X account, the NNPC revealed its intention to partner with credible operations and maintenance firms to oversee the facilities. The move is aimed at enhancing the reliability and sustainability of the refineries while addressing Nigeria’s petrol supply issues.
The NNPC reaffirmed its commitment to improving energy security in Nigeria, stating that the partnerships would focus on ensuring the efficient operation of the refineries and meeting the nation’s fuel demands.
The government remains optimistic that these reforms will transform the country’s downstream sector and reduce its dependence on fuel imports.
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