The Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has said the attempt to rehabilitate Nigeria’s major refineries is facing setbacks due to the outdated nature of the facilities and the failure of some imported technologies.

Ojulari, in an interview with Bloomberg during an OPEC seminar, said the company had invested significantly in reviving the Port Harcourt, Warri, and Kaduna refineries. However, the process has been more difficult than expected, with many of the new technologies failing to perform as planned.

He explained that restoring long-abandoned refineries is proving to be a complex task, adding that NNPCL is now reassessing its strategy. The outcome of that review, expected by December 2025, will determine the next steps — including the possibility of selling the refineries.

“Nothing is off the table,” Ojulari said, noting that all options will be considered based on the review’s findings.

The update comes after NNPCL shut down the Port Harcourt refinery in May for maintenance and evaluation. In a separate comment, Aliko Dangote recently cast doubt on whether the government-owned refineries would ever function properly again.

This stands in contrast to last year’s announcement by former NNPCL GCEO, Mele Kyari, who said the Port Harcourt and Warri plants had resumed operations after rehabilitation.