₦airaland Forum

Port Harcourt, Warri, Kaduna Refineries To Be Privatised – Presidency.

The Nigerian presidency has announced plans to fully privatisation of the country’s state-owned refineries, including the Port Harcourt, Warri, and Kaduna facilities are underway.

Sunday Dare, the President’s special adviser on media and public communications, posted this update in a statement posted on Sunday via his official X (formerly Twitter) account. The bulletin outlined key achievements in the sector and hinted at the administration’s plans to restructure the refineries.

“The full privatisation of Port Harcourt, Warri, and Kaduna refineries is in progress,” Dare stated, though he did not provide a specific timeline for the initiative.

Nigeria’s four national refineries have remained largely inoperative for over four decades, despite the federal government investing trillions of naira in maintenance and rehabilitation. This failure has left the country heavily reliant on imported petrol, placing immense pressure on its foreign exchange reserves.

The urgent need for improved safety standards for oil tankers
Dare expressed optimism that local refining would eventually meet domestic demand, easing the perennial issue of fuel shortages. “With full local refining gradually being met, the days of fuel queues will end,” he added.

In August 2024, the Nigerian National Petroleum Company (NNPC) Limited announced plans to involve private operators in managing the Kaduna and Warri refineries. In a circular shared via its official X account, NNPC disclosed its intent to collaborate with credible operations and maintenance (O&M) firms.

“The Nigerian National Petroleum Company (NNPC) Limited, an integrated oil and gas company involved in exploration, refining, petrochemicals, transportation, storage, and marketing, seeks to engage reputable and credible operations & maintenance (O&M) companies to operate and maintain the Warri Refining and Petrochemical Company (WRPC) and Kaduna Refining and Petrochemical Company (KRPC),” the circular stated.

NNPC emphasised that the partnership would focus on ensuring the reliability and sustainability of the refineries, thereby addressing Nigeria’s petrol supply challenges and bolstering energy security.

https://businessday.ng/energy/article/complete-port-harcourt-warri-refineries-to-be-privatised-presidency/?amp

Good

I pity those who will fall for this trap. Buying those refineries now is like buying a faulty Mercedes 230 when others are buying GLE 450. Where will you get the parts to fix it?

Using new parts to fix wornout parts of the PH refinery is one of the reasons it never meets the repair completion target. Once they try to power the refinery, another part breaks down.

Righthussle:
Good

As in?

After using govt money to "renovate" them....! Why didn't they take this decision right from the start? Why now after sinking a lot of billions into it's turnaround maintenance...*and to think some people work in these moribund refineries doing nothing but just collecting huge salaries🤔

Sack the workers and sell the part for scrap. The idea was a waste of money piping oil from Port Harcourt.

SmartPolician:
I pity those who will fall for this trap. Buying those refineries now is like buying a faulty Mercedes 230 when others are buying GLE 450. Where will you get the parts to fix it?

Using new parts to fix wornout parts of the PH refinery is one of the reasons it never meets the repair completion target. Once they try to power the refinery, another part breaks down.

Not true bros. Forget all those grammar of the refineries being moribund. Make we leave that matter.

Sell.

Get never worked anyway.

SmartPolician:
I pity those who will fall for this trap. Buying those refineries now is like buying a faulty Mercedes 230 when others are buying GLE 450. Where will you get the parts to fix it?

Using new parts to fix wornout parts of the PH refinery is one of the reasons it never meets the repair completion target. Once they try to power the refinery, another part breaks down.

Look at what an adult is saying

Elusive001:
Not true bros. Forget all those grammar of the refineries being moribund. Make we leave that matter.

I can understand that trust is a major issue in this part of the world. Sometimes, I wonder why we haven't balkanised this country since the citizens never believe anything the government says.

FYI, a refinery is not like your simple generator. One of these days, you should visit one of those refineries in Nigeria and take a good like at the engineering wizardry that goes into setting it up. What I shared here is a fact.

SmartPolician:
I pity those who will fall for this trap. Buying those refineries now is like buying a faulty Mercedes 230 when others are buying GLE 450. Where will you get the parts to fix it?

Using new parts to fix wornout parts of the PH refinery is one of the reasons it never meets the repair completion target. Once they try to power the refinery, another part breaks down.

Are you an engineer or engineering student ??

Cos this your statement is out of completely ignorance.

I had a dream "OandO about to have 3 refinery "

Refinery is a complex business ooh the profit margins are very very small... Infact no sensible investor would ever touch that refinery

Of course sell it to your friends and family

This privatization plan for our refineries is a smart move! For too long, we've depended on imports while our own resources sit idle. If done right, this can boost local production and reduce fuel queues. But we must ensure transparency to avoid past mistakes. By the way, if you're looking for a share apartment in Lekki or need a short let around Lagos Island, hit me up! I also have extra rooms for rent in Lekki. Let's make living in Lagos easier together

https://www.youtube.com/watch?v=WLQkpwGH5co

To think that Yar Adua had the opportunity to sell port Harcourt refinery to Dangote during his tenure..this long cry of fuel subsidy, import and high prices would have been eliminated at least a decade ago

This is what you get when visionless people are in power..refused to transfer it to private hands and left it to rot..

Today they are beginning private companies to take over it..funny enough they had to spend their money to repair it first.

Modular refineries

After all the mismanagement of the budgetary provisions with staggering TAM yet refineries are still obsolete? Hope cronies would not buy these refineries for ridiculous prizes and continue the run down as usual?

So OBJ was right
The refineries can't be managed by NNPC successfully despite all the window dressing
I suspect this announcement of "operational" is to shore up the asking price

Is this a good move ?
Are you guys privatising or selling to your friends?


Need a land of your own?
Check my signature for affordable Lands/houses within Lagos/Ogun etc

Way to go

May I dust my CV

mrvitalis:
I had a dream "OandO about to have 3 refinery "

Refinery is a complex business ooh the profit margins are very very small... Infact no sensible investor would ever touch that refinery

If it is not profitable, South Korea with no crude oil will not have the largest refineries in the world.

mrvitalis:
I had a dream "OandO about to have 3 refinery "

Refinery is a complex business ooh the profit margins are very very small... Infact no sensible investor would ever touch that refinery

Profit margins change with crude price

But when Atiku said he will sell them, there was no kind of insult he did not collect.

Have you guys noticed a pattern? All the policies these guys kicked against during the pdp regimes are what they are now implementing. If those things had been implemented long ago, MAYBE Nigerians wouldn’t have been suffering this much today.

Did it work for NEPA or whatever it goes by today?

Kaiiiiiii

This one pass juju oooooooo

Paraman:
Look at what an adult is saying

Didn't you said worse?

Donaldoni:
Way to go

May I dust my CV

Oga don't let anyone deceive you o

If it was really going to work, that should be a decision for NNPC or is NNPC no longer a private outfit?

Why is the presidency gangan the one announcing privatization of NNPC assets

Ok, noted.

Bobodee09:
Are you an engineer or engineering student ??

Cos this your statement is out of completely ignorance.

He is a typical nairalander. That's how they vomit before they realize their error.

Kukutente23:
Profit margins change with crude price

Nah because products change with crude price too