Photo Caption: Group CEO NNPC Ltd, Engr. Bashir Bayo Ojulari addressing the Company’s staff during a Townhall held at the NNPC Towers, in Abuja, on Tuesday.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially debunked speculations about selling the Port Harcourt Refining Company, emphasizing instead its unwavering commitment to completing a comprehensive rehabilitation of the facility and retaining ownership under national control.
This reassurance was delivered by the Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, during a high-level town hall meeting with staff at the NNPC Towers in Abuja on Tuesday.
“We are not selling the Port Harcourt Refinery,” Ojulari said. “We are reviewing the rehabilitation approach to ensure technical and financial viability, and selling is not a commercially sound option at this stage.”
Ojulari clarified that the decision not to operate the Port Harcourt refinery prematurely, prior to the full completion of its upgrade, was based on detailed internal reviews. He described earlier plans as “sub-commercial” and not aligned with long-term national interest.
Addressing Misconceptions
The announcement comes amid public speculation triggered by Ojulari’s earlier comments at the 2025 OPEC Seminar in Vienna, where he noted in an interview with Bloomberg that “all options are on the table.” His clarification at the town hall decisively addressed what many had interpreted as an openness to asset disposal.
“Those remarks were not an indication of impending sale,” Ojulari emphasized. “Rather, we’re focused on advanced technical partnerships to accelerate and high-grade the rehabilitation process.”
A Town Hall of Transparency and Direction
According to a statement by Aliyu Abubakar, NNPC’s Manager of Media Relations, the announcement was received with resounding applause from hundreds of staff members present at the event. Employees described the session as “reassuring,” praising it as a demonstration of clarity and business-minded leadership.
The event was not limited to refinery updates. It also featured progress reports from executive vice presidents of the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy divisions. Each provided candid insights into current reforms, operational milestones, and strategic challenges.
NNPC’s Strategic Focus
The NNPC CEO’s message underscored the company’s transformation into a commercially-driven and professionally-managed national energy company, deeply committed to performance, transparency, and national development.
“We are stewards of critical national energy infrastructure,” Ojulari said. “This journey is about more than refining; it’s about ensuring Nigeria’s energy security for generations to come.”
The town hall closed with a resounding call for unity, innovation, and commitment across all levels of the organisation. Staff feedback indicated a renewed sense of alignment with the leadership’s long-term vision.
National Assets, National Purpose
The announcement reinforces the Federal Government’s stance on retaining key energy assets under public ownership and continuing the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries through improved partnerships rather than divestment.
With its renewed energy and strategic resolve, NNPC Ltd appears poised to deliver on its promise to reposition Nigeria’s energy sector in a way that benefits all Nigerians.
