NNPC Targets Ownership Model Change for Refineries by June 2026

The NNPC plans to change the ownership model of refineries by June 2026, aiming to partner with private entities to revitalize the state-owned facilities. Despite ongoing rehabilitation efforts, Nigeria's refineries in Port Harcourt, Warri, and Kaduna remain below international standards.

NNPC seeks to leverage the expertise of private refinery operators like Dangote Refinery to enhance the performance of its facilities. The move comes after the company announced a significant profit in the 2024 financial year, signaling a shift towards more efficient management practices.