NNPC Considers Refinery Sale and Restructuring for Market Efficiency

The Nigerian National Petroleum Corporation (NNPC) is planning to sell its four refineries located in Port Harcourt, Warri, and Kaduna as part of a transformation agenda to improve efficiency and transparency in the oil and gas sector. Olu Verheijen, a special advisor to President Bola Tinubu, mentioned the government's intention to find the right technical partners for the refineries.

NNPC also aims to increase its ownership stake in Dangote Petroleum Refinery. Bayo Ojulari highlighted the corporation's efforts to enhance its stake in the refinery despite financial constraints.