The Federal Government has announced plans to fully privatization of the country’s state-owned refineries, including the Port Harcourt, Warri, and Kaduna facilities are underway.
Sunday Dare, the President’s special adviser on media and public communications, posted this update in a statement posted on Sunday via his official X (formerly Twitter) account. The bulletin outlined key achievements in the sector and hinted at the administration’s plans to restructure the refineries.
“The full privatisation of Port Harcourt, Warri, and Kaduna refineries is in progress,” Dare stated, though he did not provide a specific timeline for the initiative.
Nigeria’s four national refineries have remained largely inoperative for over four decades, despite the federal government investing trillions of naira in maintenance and rehabilitation. This failure has left the country heavily reliant on imported petrol, placing immense pressure on its foreign exchange reserves.
Dare expressed optimism that local refining would eventually meet domestic demand, easing the perennial issue of 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 shared via its official X account, NNPC disclosed its intent 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.
NNPC emphasised that the partnership would focus on ensuring the reliability and sustainability of the refineries, thereby addressing Nigeria’s petrol supply challenges and bolstering energy security.
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