Full privatization of Port Harcourt, Warri refineries underway – Presidency 

The presidency has signaled that plans for the entire privatization of the state-owned refineries, together with the Port Harcourt, Warri, and Kaduna refineries, are underway.

Sunday Dare, the Particular Adviser to the President on Media and Public Communications, disclosed this in a bulletin launched on Sunday through his official X (previously Twitter) deal with.

The round highlighted key milestones achieved by the administration within the oil and fuel sector.

In accordance with Dare, the complete privatization of those refineries is “within the works,” although he didn’t specify a timeline for its execution.

The 4 nationwide refineries, which have remained non-functional for over 4 a long time regardless of trillions of naira invested in them, have left Nigeria reliant on imported petrol.

This dependence has exerted vital strain on the nation’s international change reserves.

Dare, nonetheless, stated:

“Full privatization of Port Harcourt, Warri and Kaduna refining within the works. 

“With full native refining regularly being met, days of gasoline queues to finish.” 

NNPC search personal operators for Refineries  

In August 2024, Nairametrics reported that the Nigerian Nationwide Petroleum Firm (NNPC) Restricted had introduced plans to have interaction personal corporations for the operation and upkeep of its refineries in Kaduna and Warri.

The nationwide oil firm disclosed this in a round issued through its official X account. 

In accordance with NNPC, these corporations will play a pivotal function in making certain the reliability and sustainability of the refineries to fulfill the nation’s petrol provide and vitality safety necessities.

“The Nigerian Nationwide Petroleum Firm (NNPC) Restricted is an built-in Oil and Gasoline firm engaged in petroleum/fuel exploration, refining and petrochemicals, transportation, storage, and advertising and marketing. 

“NNPC Ltd is looking for to have interaction respected and credible Operations & Upkeep (O&M) corporations to function and keep two of its refineries, Warri Refining and Petrochemical Firm (WRPC) and Kaduna Refining and Petrochemical Firm (KRPC), to make sure reliability and sustainability to fulfill the nation’s gasoline provide and vitality safety obligations,” the round stated. 

What it is best to know 

The Kaduna and Warri refineries are two of the 4 refineries owned by the Nigerian Nationwide Petroleum Company (NNPC) Restricted for many years.

• Nigeria’s state-owned refineries are situated in Port Harcourt, Kaduna, and Warri.
• The dearth of useful refineries has compelled the nation to rely closely on imported refined petroleum merchandise, considerably impacting the nationwide economic system.
• NNPC’s Group Chief Govt Officer, Mele Kyari, had promised that the Port Harcourt refinery would begin operations final August.
• He additionally said that the refineries in Kaduna and Warri had been scheduled to start operations within the second half of 2025.

Nonetheless, these deadlines for resuming refinery operations haven’t been met, elevating skepticism in regards to the feasibility of the present timeline.