Warri Refinery's Ownership Dispute and Rehabilitation Plans
The Warri Refinery does not belong to Jiaxing, as stated by Bashir Bayo Ojulari, the Group Chief Executive Officer of NNPC, on April 30, 2026. The refinery has been inactive since May 24, 2025, due to maintenance issues, which were expected to last thirty days.
However, a technical and commercial review revealed deeper structural and financial challenges. In February 2026, NNPC's CEO disclosed that the refinery was operating at a significant loss, with rehabilitation costs nearing $900 million.
The refinery was declared operational in December 2024 but shut down a month later. A memorandum of understanding was signed with two Chinese firms for rehabilitation, raising concerns about the lack of transparency and competition in the process.
The article argues that Nigerian companies possess the technical and financial capacity to operate refineries, countering claims that only foreign firms can manage such operations.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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