The Nigerian National Petroleum Company (NNPC) Limited has said that it is seeking technical equity partners to help revive three of its refineries, which have remained idle despite significant investments.
Group Chief Executive Officer (GCEO) of the state oil company, Bayo Ojulari, said in a post on X on Thursday, that the move was to ensure the refineries operate effectively.
The refineries, with a combined capacity of 445,000 barrels per day, alongside the Dangote Petroleum Refinery, could help Nigeria end its reliance on imported fuel and become a net exporter.
“We are looking ahead with optimism to ensure our refineries operate effectively. We are dedicating significant time to a detailed review and are eager to implement our insights.”
The development followed previous investments to revive the moribund refineries.
Former NNPC head Mele Kyari had secured external partnerships worth $2.5 billion in contracts to rehabilitate the refineries.
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