Obasanjo Reveals Shell's Rejection of Nigerian Refineries Offer

In a televised interview aired on Saturday night, former President Olusegun Obasanjo spoke about his attempts to persuade Shell, a global energy firm, to operate the Port Harcourt, Warri, and Kaduna refineries. He recounted inviting top Shell officials to discuss the potential for collaboration, but they ultimately turned down the offer.

Obasanjo highlighted the contrast with Chad, where a similar offer was accepted. He mentioned that Aliko Dangote's group was willing to invest $750 million for a 51% stake in the two facilities.

However, he noted that his successor, the late Umaru Musa Yar'Adua, reversed the deal after he left office. Obasanjo also referenced the current NNPC Group Chief Executive Officer, Bayo Ojulari, and the ongoing efforts to select a technical partner for the refineries, with a new target set for June 2026 to finalize this selection.