NNPC SHUTS DOWN RUMOURS THAT PORT HARCOURT REFINERY IS FOR SALE

The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed that it has no plans to sell the Port Harcourt Refining Company, emphasizing its dedication to fully rehabilitating and maintaining the facility.

This announcement was made by Group Chief Executive Officer Bayo Ojulari during a company-wide town hall meeting at the NNPC Towers in Abuja, putting to rest weeks of rumors surrounding the future of the nation’s major state-owned refinery. He described any proposal to sell the Port Harcourt Refining Company as ill-advised and commercially unviable.

Ojulari’s comments come in light of public concerns raised after his earlier statement at the 2025 OPEC Seminar, where he mentioned that all options are on the table concerning the future of Nigeria’s refineries. This remark led to widespread speculation about a potential sale.

He, however, clarified that the company’s current stance is not a policy shift but reflects ongoing comprehensive technical and financial assessments of the Port Harcourt, Kaduna, and Warri refineries.