The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, has admitted that rehabilitating Nigeria’s refineries has been a daunting challenge after decades of abandonment.
Ojulari, who disclosed this while receiving a delegation from the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) at the NNPC Towers in Abuja on Thursday, also revealed that the company has come under sustained attacks from individuals opposed to its reform agenda.
According to him, the Warri, Port Harcourt, and Kaduna refineries suffered years of neglect that have complicated efforts to restore them despite heavy financial investments.
“A lot of money has been spent on these refineries. However, it’s been very challenging to translate that money into profitability. It’s like parking an old car for years without oiling it—when you try to fix one thing, another problem emerges. That’s the reality we face with the refineries,” Ojulari explained.
He disclosed that both technical and commercial assessments had been completed, with NNPC now adopting a new strategy.
“We’ve concluded a commercial review for the Port Harcourt refinery, and the best way forward is to bring in a truly professional refining company to work with us,” he said.
Ojulari also noted that NNPC was leveraging its equity in the Dangote Refinery to diversify supply and reduce shortages during the transition period.
Reflecting on his first five months in office, he said his priority has been to revive the refineries through an Incorporated Joint Venture model.
“Mr. President does not pressure me to do the wrong thing. That is why we are building from the baseline to ensure sustainability in refinery operations,” he stressed.
Ojulari added that NNPC’s reforms have attracted resistance.
“We are under attack, but we will not succumb to short-term pressure. Change comes at a price, and transformation is never easy,” he said, urging Nigerians to be patient as the reforms would ultimately deliver long-term benefits.
PENGASSAN President Festus Osifo commended the NNPC’s efforts, highlighting milestones such as restored pipeline operations and reduced crude oil theft since Ojulari assumed office.
“What we’ve asked over time is whether it is possible for an experienced refiner to buy into the shares of the refineries, while NNPC reduces its stake. That way, we reduce political interference and ensure continuous operations,” Osifo suggested.
He further praised Ojulari’s leadership for ensuring Nigeria’s pipelines—from the Forcados line to the Trans Niger Pipeline (TNP)—were functional again, contributing to improved national oil production.
