Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Bayo Ojulari, has reaffirmed the commitment of the company towards reviving the state-owned moribund refineries.
Ojulari, the NNPCL management is determined to ensure that the refineries located in Port Harcourt, Warri, and Kaduna are fully rehabilitated and operate effectively.
In a statement via his official X handle on Wednesday, the NNPCL GCEO said they are conducting a detailed review of issues surrounding the refineries and would implement insights gained from their findings for optimal performance of the facilities.
“We are filled with determination! We are looking ahead with optimism to ensure our refineries operate effectively,” Ojulari stated.
“We are dedicating significant time to a detailed review and are eager to implement our insights.”
Pinnacle Daily recalls that the NNPCL GCEO had, in an interview with Bloomberg on the sidelines of the 9th OPEC International Seminar in Vienna, Austria, in July, hinted that the company may sell off the refineries, stating that efforts towards rehabilitating the plants have become more complicated.
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He said that significant investments had been made in rehabilitating the plants, but outcomes have not met expectations.
“What we’re saying is that the sale is not out of the question. All the options are on the table, to be frank, but that decision will be based on the outcome of the reviews we’re doing now,” Ojulari said.
Following reactions that trailed the comment, Ojulari later said the state-owned company will no longer sell the Port Harcourt, Warri, and Kaduna refineries but remains committed to revamping them.
In his statement on Wednesday, Ojulari emphasised that they prioritize the national prosperity, not individual interest.
“What fuels our drive is the understanding that the prosperity of the Nigerian states and the future success of Nigeria will always take precedence over any individual interests. This very commitment inspires us as we anticipate creating sustainable solutions for our refineries in the near future,” Ojulari stated.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X
