The Nigerian presidency has announced that plans are underway to fully privatise the country’s state-owned refineries, including the Port Harcourt, Warri, and Kaduna facilities.
Sunday Dare, the President’s Special Adviser on Media and Public Communications, disclosed this in a statement shared on Sunday via his official X (formerly Twitter) account. The statement highlighted key achievements in the oil and gas sector and hinted at the administration’s intent to restructure the refineries.
“The full privatisation of Port Harcourt, Warri, and Kaduna refineries is in progress,” Dare stated, although he did not provide a timeline for the initiative.
For over four decades, Nigeria’s four state-owned refineries have remained largely non-functional, despite the federal government investing trillions of naira in their maintenance and rehabilitation. This has forced the nation to rely heavily on imported petrol, putting significant strain on its foreign exchange reserves.
Dare expressed optimism that increased local refining capacity would eventually eliminate persistent fuel shortages. “With full local refining gradually being met, the days of fuel queues will end,” he added.
In August 2024, the Nigerian National Petroleum Company (NNPC) Limited announced plans to involve private operators in managing the Kaduna and Warri refineries. In a circular released via its official X account, the NNPC outlined its intention to collaborate with credible operations and maintenance (O&M) firms.
“The Nigerian National Petroleum Company (NNPC) Limited, an integrated oil and gas company involved in exploration, refining, petrochemicals, transportation, storage, and marketing, seeks to engage reputable and credible operations & maintenance (O&M) companies to operate and maintain the Warri Refining and Petrochemical Company (WRPC) and Kaduna Refining and Petrochemical Company (KRPC),” the circular stated.
The NNPC highlighted that this partnership aims to ensure the reliaj7uubility and sustainability of the refineries, addressing Nigeria’s petrol supply challenges and strengthening the nation’s energy security.
