Oil marketers and industry stakeholders have supported the proposed sale of Nigeria’s refineries under NNPC management, emphasizing the need for transparency, inclusion, and accountability.
They believe that privatizing the Port Harcourt, Warri, and Kaduna refineries—whose rehabilitation has cost trillions of naira with limited results—will promote competition, better pricing, and address financial losses.
NNPC CEO Bayo Ojulari acknowledged that outdated facilities have hindered rehabilitation efforts and stated that the company is reviewing its refinery strategies, with sale being a possible option depending on the review’s outcome. Meanwhile, Dangote Group President Aliko Dangote had suggested that the refineries may never be viable due to mismanagement.
Leave a Reply