Nigeria’s state-owned Nigerian National Petroleum Company Limited (NNPC Ltd.) is in discussions with a Chinese energy company over a potential partnership to operate one of its refineries, the company’s chief executive said. The talks form part of efforts to improve the performance of Nigeria’s ageing refining assets and reduce dependence on fuel imports, Reuters reported.
NNPC Group CEO Bayo Ojulari said the company is seeking strategic investors with strong technical and operational expertise, following an internal review that showed Nigeria’s government-owned refineries have struggled to operate profitably under NNPC’s sole management. He said the company is exploring shared ownership models rather than outright asset sales.
According to MarketScreener, NNPC’s board has approved a shift away from contractor-led refinery rehabilitation toward partnerships with experienced operators. He added that the Chinese firm, which operates a large petrochemical facility in China, is expected to inspect one of the refineries as discussions progress, based on remarks made at a public forum.
The move comes as Nigeria continues to grapple with limited domestic refining capacity despite repeated overhaul attempts. While the start-up of the Dangote refinery has eased some pressure on fuel supply, officials say revitalising state-owned plants remains key to improving energy security and cutting import costs.
