Sale Of State-owned Refineries Not Ruled Out–NNPC GMD

The Nigerian National Petroleum Company Limited (NNPCL) has indicated that the sale of some state-owned refineries remains a possibility as the company conducts a comprehensive review of its downstream operations.

This was disclosed by NNPCL group chief executive officer, Bayo Ojulari, during an interview on the sidelines of the 9th OPEC International Seminar in Vienna, Austria.

Ojulari also called on the Global North to stop “weaponising finance” against Africa, a practice he said has stifled much-needed investment in the continent’s energy sector.

In an interview with Bloomberg, Ojulari acknowledged the growing complexities in revamping Nigeria’s aging refineries, including those in Port Harcourt, Warri, and Kaduna.