The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has declared that fixing the country’s refineries under NNPC’s management has been difficult due to the neglect of the plants for decades.
He also revealed that the NNPC is under attack from people who don’t mean well for Nigeria and who are against the ongoing transformation efforts in the company. Ojulari disclosed this on Thursday while playing host to a delegation from the national body of the Petroleum and Natural Gas Senior Staff Association of Nigeria at the NNPC Towers in Abuja.
He pointed out that Nigeria’s refineries had suffered years of neglect, making them difficult to revive despite huge investments in the facilities located in Warri, Port Harcourt, and Kaduna.
“A lot of money has been spent on these refineries. However, it’s been very challenging to translate that money into profitability. Part of the reason could be described as when you have an old car, and you park the car for some time without any greasing or oiling. The refinery has been difficult to put back together because of years of neglect. And it’s been difficult when you fix one thing, the other thing is still there,” he explained.
Ojulari disclosed that technical and commercial reviews of the refineries had been completed, with a new model being pursued. “We’ve now completed a commercial review for the Port Harcourt refinery. And from that commercial review, we have concluded that the best way forward is for us to get a true professional refining company to join us and cooperate,” he said.
He added that NNPC was leveraging its equity in the Dangote Petroleum Refinery to diversify supply, while ensuring no shortage of products during the transition.
The GCEO highlighted the company’s priorities since coming on board about five months ago, including reviving the nation’s refineries through the Incorporated Joint Venture model. “Mr President doesn’t pressure me to do the wrong thing. That is why we are looking at the baseline to ensure whatever we are doing, the refineries work sustainably going forward,” Ojulari said.
The NNPC boss, however, stated that the national oil firm was under attack due to its reforms in the oil sector. “We are under attack. We will not budge to short-term pressure, as it will not be in the best interest of Nigerians. You cannot drive change without a price, and the transformation is tough,” Ojulari explained.
He emphasised that patience will be required from the Nigerian people at large to get to the other side of change, which will benefit Nigeria and its citizens.
The President of PENGASSAN, Festus Osifo, thanked the NNPC management for its partnership during the recently held 2025 PENGASSAN Energy & Labour Summit in Abuja. The union also acknowledged the “remarkable milestones” recorded so far under Ojulari’s watch, including the resumption of pipeline operations and reduced crude oil theft.
“What we’ve asked over time is whether it is not possible in the refineries, for us to own a refiner who is well-experienced, to buy into the shares of the refineries, then, as government, through an NNPC, we reduce their stake in the refinery. So that we reduce a lot of political interference, at the end of the day, the continuous operation of the refinery will be a growing concern,” Osifo added.
He also commended the company’s efforts in addressing pipeline vandalism and crude oil theft, noting improvements in output.
“GCEO, we also recognise the fact that since you came on board, our pipelines have actually been working from the Forcados Pipeline to the TNP, and all our pipelines today, they’ve actually been working, and that has led to the higher production that we observe today in the industry,” he said.
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