The Nigerian National Petroleum Company Limited (NNPCL) GCEO Ojulari has renewed his pledge to restore the nation’s three state-owned refineries, countering growing doubts from industry leaders, including Dangote Group President, Aliko Dangote.
Ojulari Rejects Calls for Privatization
NNPCL’s Group Chief Executive Officer, Bashir Bayo Ojulari, told participants at the Petroleum and Energy Advancement and Leadership Summit (PEALS 2025) in Abuja that the Port Harcourt, Warri, and Kaduna refineries will resume operations.
“The Nigerian state and the future of its success are above any individual,” Ojulari declared, stressing that NNPCL remains determined to complete refinery rehabilitation despite long-standing setbacks.
His comments directly opposed Dangote’s view that the facilities may never work again and dismissed mounting pressure from the Manufacturers Association of Nigeria, petroleum marketers, and private sector stakeholders urging government to sell the plants.
Years of Dormancy and Sunk Costs
Nigeria’s refineries have remained idle for most of the past decade despite heavy investments. The Port Harcourt and Warri refineries, briefly restarted last year, were quickly shut down for further maintenance.
Critics point to over $18 billion spent on the plants with little to show, fueling skepticism over continued state ownership. Ojulari, however, argued that privatization would erode national value and compromise energy security.
Rehabilitation Strategy Under Review
Ojulari revealed that NNPCL is conducting detailed technical and financial reviews of all three facilities. He admitted that previous decisions to operate the Port Harcourt refinery before full rehabilitation were “ill-informed and sub-commercial.”
Instead, he outlined plans to pursue advanced technical partnerships and a “high-grade rehabilitation” approach designed to deliver sustainable output.
Industry Pushback and Skepticism
Stakeholders remain unconvinced. Marketers and analysts have criticized Ojulari for failing to visit any refinery since assuming office four months ago, raising concerns over leadership visibility.
With the Port Harcourt refinery shut since May for “one-month maintenance” but still offline, confidence in NNPCL’s timetable remains weak. Critics warn that Nigeria’s refining deficit continues to drive reliance on costly imports, even as the Dangote Refinery expands its market share.
Outlook: Execution Will Define Credibility
Ojulari’s latest assurances highlight government’s refusal to offload state-owned refineries and its determination to revive them as strategic assets. Yet, analysts insist that credibility will hinge not on declarations but on execution, transparency, and timely delivery of operational output.
Until the refineries produce consistently, industry watchers say Nigeria will remain caught between policy ambition and persistent import dependence.