Sale of Nigeria’s refineries gains support from marketers urging transparency, accountability, and inclusion as NNPC reviews options for Port Harcourt, Warri, Kaduna
The proposed sale of Nigeria’s refineries has received strong backing from oil marketers and key industry players, who are calling for transparency and full stakeholder engagement in the process.
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Stakeholders argue that the Port Harcourt, Warri, and Kaduna refineries—long plagued by inefficiency and heavy financial losses—should be sold to end years of waste.
They insist the process must be transparent and free from political interference.
NNPC Group CEO, Bayo Ojulari, recently admitted that despite ongoing rehabilitation, the facilities remain largely unproductive. Speaking to Bloomberg, he stated, “Sale is not out of the question. All options are on the table.”
Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria, noted, “We had advised months ago that privatisation of the refineries would be the best decision, and we maintain that position.”
Gillis-Harry cautioned, however, that the process should not be rushed or politically manipulated. “Let the privatisation process include stakeholders like MEMAN, DAPPMAN, PETROAN, IPMAN, and NUPENG,” he added.
He expressed frustration over the administration’s silence on promised investigations into past refinery rehabilitation efforts. “We have not heard the results of those probes. Suddenly, we are now discussing sales,” he remarked.
Chinedu Ukadike of the Independent Petroleum Marketers Association of Nigeria echoed these sentiments, calling the refineries “a financial burden.”
“Running costs are higher than revenue. Billions have been spent on maintenance with no output,” he said. “It is time to consider privatisation as a serious solution.”
Energy expert Kelvin Emmanuel warned that any sale must be preceded by investigations into financial mismanagement. “It will be a travesty if those responsible are not held accountable,” he wrote on X.
Professor Wumi Iledare, a respected petroleum economist, cautioned against rushed decisions. “It’s not about state ownership but systemic inefficiency,” he said. “Any sale must serve the long-term national interest.”
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Despite spending over \$2.8bn on rehabilitation since 2021, the refineries have failed to resume production, sparking public outcry and renewed demands for reforms in the downstream oil sector.
