Nigerian Government Considers Selling NNPC Refineries for Sector Reform

The Nigerian government is contemplating selling NNPC refineries as part of broader reforms to enhance competitiveness and efficiency in the downstream oil sector. Olu Verheijen, an adviser to President Bola Tinubu, revealed this during an interview at the ADIPEC energy conference in Abu Dhabi.

The move aims to address the sustainability challenges faced by state-owned refineries and reduce market distortions caused by government subsidies. NNPC has initiated a comprehensive review of its major refineries in Warri, Port Harcourt, and Kaduna, with plans to complete the reassessment by the end of the year.