By formally ruling out the sale of the Port Harcourt Refining Company, the Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its dedication to carrying out the plant’s high-quality rehabilitation and retention.
The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, made the announcement at a town hall meeting for the entire company on Tuesday at the NNPC Towers in Abuja, the corporation said in a statement on Wednesday.
“The position isn’t a shift,” he said. Instead, it is based on continuous, in-depth technical and financial analyses of the refineries in Port Harcourt, Kaduna, and Warri.
According to Ojulari, the current study shows that the previous choice to run the Port Harcourt refinery before its rehabilitation was finished was poorly thought out and sub-commercial.
Although all three are making progress, the statement noted that in order to finish and improve the Port Harcourt refinery’s restoration, more sophisticated technical partnerships are needed. Since selling would cause more value loss, it is therefore extremely improbable.
Following his statement that “all options are on the table” in an interview with Bloomberg earlier this month at the 2025 OPEC Seminar in Vienna, Austria, the declaration follows a great deal of conjecture.
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The remark generated headlines and conjecture on the country’s refining assets’ future.
Hundreds of work members applauded the announcement, describing the role as a revitalized sense of business-focused direction throughout the company.
According to the statement, “the town hall was an opportunity for open and constructive engagement—it was more than just a performance update.”
In order to highlight operational accomplishments, ongoing changes, and areas that need attention, the Executive Vice Presidents gave progress reports from the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy businesses.
A clear road map for the future was laid forth, and difficulties and past errors were acknowledged in a tone characterized by integrity and leadership.
It stated that the decision demonstrates NNPC’s strong commitment to completing the rehabilitation and ensuring the long-term sustainability of Nigeria’s refineries, as well as its responsibility as a key custodian of the country’s energy infrastructure.
It also signifies a commitment to keeping vital assets under national control and continuity in the Federal Government’s larger energy security goals.
The workforce was energized and in line with the leadership’s vision, according to feedback given both during and after the session.
Employee optimism and optimism about the company’s changing strategic direction were reflected in the environment, which was described as “reassuring,” “transformational,” and “sustainable.”
“NNPC Ltd will continue to reposition itself as a professionally managed, commercially driven national energy company that is based on transparency, performance-focused, and unwavering in its responsibility to its number one stakeholder group, Nigerians,” Ojulari said in closing. Four Oil Wells Are Drilled by NNPCL in Kolmani, Bauchi The Nigerian National Petroleum firm Ltd. has drilled four oil wells in the Kolmani region of Bauchi State, according to Mr. Yusuf Usman, a director of the firm.
He also reaffirmed the company’s dedication to exploring and developing the country’s northern oil and gas potential.
Usman made this statement during the two-day interactive Session on Government-Citizens Engagement hosted by the Sir Ahmadu Bello Memorial Foundation in Kaduna on Wednesday.
According to Usman, the NNPCL has already dug four wells in Bauchi State’s Kolmani region and is now assessing the best technology to use for the subsequent drilling phase.
There are five CNG and LNG plants being built in Kogi as part of President Tinubu’s Compressed Natural Gas (CNG) Initiative.
“It is anticipated that these plants will improve gas accessibility and supply throughout the northern region.”
