Officially ruling out the sale of the Port Harcourt Refining Company, the Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its dedication to completing the plant’s high-grade rehabilitation and retention.
Bashir Bayo Ojulari, the Group Chief Executive Officer (GCEO) of NNPC Limited, made this announcement at a town hall meeting for the entire company on Tuesday at the NNPC Towers in Abuja, the company said in a statement on Wednesday.
The job isn’t a shift, he said. Instead, it is based on continuous in-depth technical and financial analyses of the refineries in Port Harcourt, Kaduna, and Warri.
According to Ojulari, the ongoing review shows that the previous choice to run the Port Harcourt refinery before its restoration was finished was poorly thought out and sub-commercial.
Despite the fact that all three are making progress, the statement noted that in order to finish and improve the Port Harcourt refinery’s restoration, more sophisticated technical partnerships are needed. Selling is therefore extremely improbable because it would cause more value depreciation.
Read Also:Â Kalu: Why Atiku Is Right Man To Lead Nigeria In 2027
Following his comments that “all options are on the table” in an interview with Bloomberg earlier this month at the 2025 OPEC Seminar in Vienna, Austria, the declaration follows a great deal of conjecture.
The remark caused headlines and conjecture on the country’s refining assets’ future.
Hundreds of employees applauded the announcement, describing the role as a revitalized sense of business-focused direction throughout the company.
“The town hall served as more than a performance update—it was an opportunity for candid and constructive engagement,” the statement read.
In order to highlight operational accomplishments, ongoing changes, and areas that need attention, the Executive Vice Presidents gave progress updates from the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy companies.
It stated that difficulties and past errors were recognized, and a clear road map for the future was laid out in an honest and leadership-oriented tone.
It was pointed out that the statement demonstrates NNPC’s strong commitment to completing the restoration and ensuring the long-term sustainability of Nigeria’s refineries, as well as its responsibility as a key custodian of the country’s energy infrastructure.
It also signifies a dedication to keeping vital assets under national control and continuity in the Federal Government’s larger energy security goals.
Employees were enthusiastic and in line with the leadership’s vision, according to feedback given both during and after the session.
The environment was described as “reassuring,” “transformational,” and “sustainable,” reflecting a positive outlook among staff members and optimism for the company’s changing strategic direction.
Ojulari stated, “NNPC Ltd will continue to reposition itself as a commercially driven, professionally managed national energy company, based on transparency, focused on performance, and unwavering in its responsibility to its number one stakeholder group, Nigerians.” In Kolmani, Bauchi, NNPCL Drills Four Oil Wells Nigerian National Petroleum firm Ltd. has dug four oil wells in the Kolmani region of Bauchi State, according to Mr. Yusuf Usman, a director of the firm.
Additionally, he reiterated the company’s dedication to exploring and developing the country’s northern oil and gas potential.
At the two-day interactive Session on Government-Citizens Engagement hosted by the Sir Ahmadu Bello Memorial Foundation in Kaduna on Wednesday, Usman made this statement.
“The NNPCL has drilled four wells in the Kolmani area of Bauchi State thus far, and is currently assessing the appropriate technology to be deployed for the next phase of drilling operations,” Usman said.
Five CNG and LNG plants are being built in Kogi as part of President Tinubu’s Compressed Natural Gas (CNG) Initiative.
“It is anticipated that these plants will improve gas accessibility and supply throughout the northern area.”
