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NNPC SEEKS STRATEGIC CHINESE PARTNERSHIP TO REVIVE NIGERIA’S IDLE REFINERIES
By PRESSCODE NEWS
ABUJA, NIGERIA. 5TH FEBRUARY 2O26
The Nigerian National Petroleum Company Limited is pursuing strategic partnerships with foreign investors, including a prominent Chinese petrochemical corporation, in a decisive move to revitalise the country’s idle state-owned refineries.
Speaking at the Nigeria International Energy Summit 2026 in Abuja, NNPC Group Chief Executive Officer Bashir Bayo Ojulari revealed that negotiations with potential partners have reached an advanced stage. The national oil company is abandoning traditional engineering and construction contracts in favour of equity partnerships that bring operational expertise and financial muscle to the table.
Ojulari disclosed that comprehensive assessments conducted following his appointment exposed the dire state of the four refineries in Port Harcourt, Warri and Kaduna. Operating well below capacity and haemorrhaging funds, the facilities were temporarily shut down to allow for thorough evaluation and strategic planning.
“We are seeking partners with the technical capability and commercial discipline to run these refineries profitably whilst ensuring Nigeria maintains significant ownership,” Ojulari explained. He confirmed that one prospective investor would soon conduct an on-site inspection of the facilities.
Nigeria’s chronic reliance on imported petroleum products stems directly from decades of refinery underperformance. The proposed equity partnerships aim to inject capital, technical knowledge and operational rigour into these assets, transforming them into sustainable profit centres.
PRESSCODE NEWS INSIGHT
This marks a watershed moment for Nigeria’s refining sector. By embracing partnerships with seasoned international operators, NNPC is acknowledging that state ownership alone cannot guarantee operational success. The Chinese involvement signals a pragmatic approach that marries public ownership with private sector efficiency. If executed effectively, these collaborations could dramatically reduce import dependency, enhance operational standards and complement emerging private refineries such as Dangote’s facility. The strategy represents a sensible departure from past failures, potentially establishing a blueprint for turning state energy assets into genuinely competitive enterprises.
PRESSCODE NEWS
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