January 02, (THEWILL) – The Nigerian National Petroleum Company Limited has invited former President Olusegun Obasanjo to tour its rehabilitated refineries in Port Harcourt and Warri to assess their operational status.
This invitation follows Obasanjo’s remarks during an interview with Channels Television, where he recounted failed attempts to privatize Nigeria’s refineries and highlighted financial losses incurred under government management.
The former president disclosed that during his administration, billionaire industrialist Aliko Dangote had offered $750 million to manage the refineries through a public-private partnership, but the offer was rejected by the late President Umaru Musa Yar’Adua, who relied on assurances from NNPC officials that the refineries could be effectively managed in-house.
Obasanjo also revealed that Shell, a major global oil company, had declined invitations to run the refineries, citing several concerns, including the facilities’ small size, poor maintenance, and widespread corruption.
“I asked Shell to come and run it for us, and Shell said they wouldn’t. I said, ‘Please come and take equity,’ they said no. I said, ‘Okay, don’t take equity, come and run it,’ they said no. Later, I called the boss of Shell to come and tell me what the problem was, and he gave me four or five reasons,” Obasanjo stated.
He noted that Shell highlighted issues such as the unprofitability of downstream operations, the small capacity of Nigerian refineries, and their poor state of maintenance as reasons for declining involvement.
In response to Obasanjo’s claims, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, extended the invitation to the former president, emphasizing the progress made under the rebranded NNPCL.
“We extend an open invitation to President Obasanjo for a tour of the rehabilitated refineries to witness firsthand the progress made under the new NNPC Limited. His wisdom and experience are invaluable, and his counsel will always be welcomed and appreciated,” Soneye said.
Soneye assured Nigerians that the rehabilitation of the Port Harcourt Refining Company (PHRC) and the Warri Refinery was not a mere turnaround maintenance exercise but a full-scale overhaul designed to meet global standards. He added that similar efforts are ongoing at the old Port Harcourt and Kaduna refineries.
He further clarified the transformation of NNPCL from a loss-making organization to a profit-driven global energy company, emphasizing the company’s expanded focus beyond oil and gas to integrated energy solutions.
Soneye also dismissed reports suggesting that NNPCL plans to halt crude oil supply to the Dangote Refinery, describing them as “falsehoods.”
“The claims that NNPCL intends to stop crude supply to the Dangote Refinery are baseless and untrue. We remain committed to fostering partnerships that drive energy security and economic growth for our nation,” he stated.
Soneye lauded Obasanjo as a distinguished statesman whose leadership and insights remain valuable to Nigeria’s progress.
“We deeply respect and hold President Obasanjo in the highest regard. His perspectives on national issues are always valued, and we remain grateful for his contributions to the growth and development of Nigeria. Together, we can build a brighter future for our great nation,” Soneye concluded.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
