The Nigerian National Petroleum Company Limited has confirmed that it has no intention of selling the Port Harcourt Refinery. This declaration came during a town hall meeting in Abuja, where the Group CEO addressed concerns and reaffirmed the company’s commitment to rehabilitating the facility fully.
He explained that although the idea of putting the refinery into operation before the completion of its full rehabilitation had once been considered, the decision proved costly and inefficient. The approach led to sub-commercial output, prompting the company to re-evaluate its strategy. Instead of pursuing a sale, the company now plans to finalize the rehabilitation with the support of capable technical partners to ensure the refinery reaches optimal performance standards.
This clarification came amid public speculation following earlier remarks suggesting that all options—including divestment—were being reviewed for the refinery. The recent statement provided a sense of relief to staff members, who welcomed the renewed direction and described it as a return to focused leadership and responsible stewardship.
Executives at the session acknowledged prior missteps but outlined structured efforts now underway to correct them. These include stronger accountability measures, strategic investment oversight, and reinforced technical project timelines. The CEO also highlighted that the company remains committed to playing a key role in safeguarding Nigeria’s energy infrastructure while aligning with national objectives for energy security and self-sufficiency.
By ruling out the sale and doubling down on full rehabilitation, the company is signaling a long-term vision. It aims to restore the refinery’s full capacity under public ownership and ensure that the asset continues to serve national interest without compromising efficiency or value.
