The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed speculations about selling the Port Harcourt Refinery.
In a strong statement shared Wednesday on its official social media channels, NNPC Ltd declared the refinery is not for sale.
Instead, the company promised to focus on completing high-grade rehabilitation of the facility.
Group Chief Executive Officer, Bashir Bayo Ojulari, made this clear during a town hall meeting held Tuesday at NNPC Towers in Abuja.
He addressed hundreds of employees and clarified misleading reports circulating in the media.
Ojulari stressed that NNPC will not consider selling the refinery, despite previous statements suggesting otherwise.
Those comments, made during the 2025 OPEC Seminar in Vienna, had triggered widespread rumours. Ojulari told Bloomberg then that “all options are on the table,” which led many to speculate about a possible sale.
However, during the Abuja town hall, he explained that earlier plans to operate the Port Harcourt refinery before full rehabilitation were poorly informed.
He stated those decisions lacked commercial sense and would have created more losses.
Furthermore, Ojulari announced that NNPC now seeks more advanced technical partnerships to complete the refinery’s rehabilitation.
He maintained that keeping the asset under national control remains a top priority.
NNPC also confirmed that similar reviews are ongoing for the Kaduna and Warri refineries.
These assessments aim to guide the company toward cost-effective, long-term decisions.
During the town hall, several Executive Vice Presidents presented updates from various departments.
They highlighted key achievements, existing challenges, and future reforms. The staff responded with optimism, applauding the new direction.
Ojulari acknowledged past mistakes but remained confident in the company’s current strategy.
He emphasized that NNPC’s decisions now align with national interests and energy security goals.
In conclusion, the NNPC boss reaffirmed the company’s role as a strategic guardian of Nigeria’s energy infrastructure.
He promised that NNPC will stay focused on performance, transparency, and delivering value to Nigerians.
