The Nigerian National Petroleum Company Limited (NNPC Ltd) is considering technical and financial partnerships to complete and restore the Warri and Port Harcourt refineries to full, sustainable operations.
The development comes amid renewed calls from petroleum marketers for the Federal Government to urgently return the government-owned refineries to production as petrol and diesel prices continue to rise.
The National Public Relations Officer of the Petroleum Products Retail Outlets Association of Nigeria, Joseph Obele, recently urged NNPC and the Federal Government to accelerate efforts to restart the facilities.
Obele said petrol prices had reached between N1,400 and N1,500 per litre in some areas, while diesel had climbed above N2,000 per litre. He argued that increasing domestic refining capacity would reduce Nigeria’s reliance on imported petroleum products and help ease the effect of higher international crude oil prices.
In response, a senior NNPC official said the company was assessing potential partners with the aim of ensuring that any arrangement for the refineries would be commercially viable over the long term.
According to the official, NNPC is reviewing different technical and financial options covering the completion, operation and long-term optimisation of both facilities.
The company had earlier entered into a Memorandum of Understanding with Sanjiang Chemical Company Limited on April 30, 2026, as part of efforts to identify potential technical and investment partners.
The official said preliminary technical assessments of the Warri Refinery and Petrochemical Plant and the Port Harcourt Refinery had already been carried out under the engagement.
NNPC had previously disclosed that its agreement with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited was intended to explore a possible technical equity partnership for the two refineries.
The proposed areas of cooperation included completing and operating the refineries, expanding refining capacity, developing petrochemical projects and exploring gas-based industrial opportunities.
However, NNPC said negotiations were still ongoing and no final commercial agreement had been reached.
The company said any partnership would depend on the outcome of due diligence, commercial considerations and the necessary regulatory approvals.
NNPC added that it would provide more information once the discussions reach a significant milestone.
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