Full privatisation of Port Harcourt, Kaduna, Warri Refineries Underway – Presidency

The Nigerian presidency has revealed plans to fully privatise 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.

In his statement, Dare revealed that the full privatisation of the Port Harcourt, Warri, and Kaduna refining is in the works.

The TRT, according to the tracker, aims to underscore the positive outcomes of the ongoing reforms, as the government continues to implement policies to enhance the nation’s energy infrastructure and economic growth.

Meanwhile, Olufemi Soneye NNPCL’s spokesperson informed Punch Newspaper that the delay in the delivery of the Port Harcourt refinery was due to unforeseen risks and challenges associated with rehabilitating the brownfield project.

He, however, confirmed that the issues have now been resolved without providing assurance that the refinery can be delivered in 2024.

Advisors Reports recalled that a circular credited to the NNPC in August had earlier given credence to the federal government’s plan to privatise Nigeria’s oil refineries.

The document outlined steps being taken to engage private operators in the management of key refineries.

According to the circular, NNPC Ltd. is an integrated oil and gas company involved in petroleum and gas exploration, refining, petrochemicals, transportation, storage, and marketing.