The Nigerian National Petroleum Firm Shrimp (NNPCL) has confirmed that the Port Harcourt Refining Firm (PHRC) is just not up for sale. At a town‑hall assembly in Abuja, Community Chief Government Officer Bashir Bayo Ojulari made it distinct that NNPCL plans to total the plant’s excessive‑grade rehabilitation and protect it inside of its portfolio.
Ojulari defined that this decision follows detailed technical and monetary evaluations of Nigeria’s three refineries, Port Harcourt, Kaduna and Warri. Those evaluations confirmed that trying to bustle Port Harcourt earlier than completing its overhaul changed into neither commercially sound nor in the nation’s finest interests.
Whereas all three refineries are making growth, the outlook for Port Harcourt calls for stronger technical partnerships to gape its give a boost to by to completion. Selling the plant now, Ojulari argued, would finest erode the value already invested in its rehabilitation.
Speculation a pair of most likely sale had grown after Ojulari informed Bloomberg all the scheme in which by the 2025 OPEC Seminar in Vienna that “all strategies are on the table.” His most up-to-date remarks possess put these rumours to leisure and possess been met with applause from workers, who welcomed the distinct, industry‑centered route.
Previous this headline announcement, the city hall featured candid growth stories from NNPCL’s govt vice presidents across Upstream, Downstream, Finance, Exchange Companies and products, Gasoline, Vitality and Fresh Energy. They reviewed fresh achievements, ongoing reforms and the challenges that lie forward, acknowledging past missteps and laying out a roadmap for the long bustle.
By reaffirming its commitment to total the Port Harcourt refinery give a boost to and protect the asset, NNPCL underscores its feature as custodian of Nigeria’s strategic energy infrastructure. The pass moreover helps the Federal Authorities’s broader energy‑security dreams by preserving serious refining potential below nationwide adjust.
