By Obinna Uballa
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries.
While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work again despite an investment of over $18 billion, Ojulari insists the facilities will be revived, dismissing calls for their sale.
Speaking at the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit in Abuja on Wednesday, Ojulari maintained that, “We are determined to make sure that our refineries work. The Nigerian state and the future of our success are above any individual. That drives our commitment to finding a sustainable solution for these refineries.”
The New Diplomat reports that the three refineries have been largely idle for years despite several turnaround maintenance efforts.
Despite growing pressure from the Organised Private Sector, petroleum marketers, and manufacturers to privatise the assets, Ojulari has rejected the idea, reaffirming that NNPC will complete “high-grade rehabilitation” and retain ownership.
In a recent internal memo, Ojulari admitted that the earlier decision to partially restart the Port Harcourt refinery before full rehabilitation was “ill-informed and sub-commercial,” adding that advanced technical partnerships were now being sought to complete the overhaul.
Ojulari’s position strongly contrasts with Dangote’s stance. In July, the Dangote Group president had argued that the refineries had become a financial sinkhole for the government, warning that years of heavy spending had yielded no result.
Ojulari’s comments also follow his earlier interview with Bloomberg during the 2025 OPEC Seminar in Vienna, where he said “all options are on the table,” sparking speculation about potential asset sales, a claim he denied
