The Nigerian National Petroleum Company Ltd has said that the country’s energy industry has witnessed cutting-edge transformation due to its leadership, adding that the moribund Port Harcourt and Warri refineries are working after over two decades.
The NNPCL said it has evolved over the years to become both profitable and accountable to Nigerians under the Petroleum Industry Act (PIA) 2021.
The NNPCL Chief Corporate Communications Officer, Olufemi Soneye said this on Thursday in an exclusive interview with NewsNGR.
The response came after former President Olusegun Obasanjo said in a viral interview on Channels TV that the company blocked Aliko Dangote’s $750m offer to run Nigeria’s four refineries.
The former president also claimed that the refineries gulped over $2bn and were not working.
Obasanjo said, “When I was president, I wanted to do something about the three refineries we have. Port Harcourt, Warri and Kaduna, and Aliko Dangote brought a team. After I asked Shell to run it for us and Shell said they couldn’t, I said please come and take equity and run, they said no. Alright, don’t take equity come and run it.
“It was after that that Aliko got a team together and they paid $750m to take out in PPP on running the refinery, my successor (Umaru Musa Yar’Adua) refunded their money and I went to my successor and I said do you know what transpired and he said NNPC said they wanted the refinery and they can run it… I was told since that time, more than $2bn have been squandered on the refinery and they still could not work.”
In response to the matter, the NNPCL exclusively told NewsNGR that former president Obasanjo has made an immense contribution to national development.
Soneye told NewsNGR, “We hold President Olusegun Obasanjo in the highest regard as a respected statesman who has made significant contributions to the growth and progress of Nigeria. His dedication to national development and his right to speak on matters of national importance are both deeply respected.
“In response to his recent comments, we would like to respectfully highlight the remarkable transformation of the NNPC. Today, NNPC has evolved into NNPC Limited, a private entity that has transitioned from being a loss-making organization to becoming a profit-oriented global energy leader.
“Under this new model, NNPC Limited has expanded beyond oil and gas to become an integrated energy company. Our focus is not only on harnessing traditional resources but also on developing cleaner, cheaper, and sustainable energy solutions to meet Nigeria’s growing demands.”
NewsNGR had reported that the NNPCL restreamed the 210,000 barrels per day Port Harcourt Refinery in November and the 125,000 barrels per day Warri Refining & Petrochemicals Company (WRPC) in Warri, Delta State in December, 2024.
Soneye said the current state of the refinery was not achieved by the typical Turnaround Maintenance (TAM) which was the discussion over two decades ago.
The CCCO said, “A notable achievement of NNPC Limited is the complete rehabilitation of the Port Harcourt Refining Company (PhRC) and Warri Refinery. This is not the typical Turnaround Maintenance (TAM) of the past but a comprehensive overhaul designed to meet world-class standards.
“Similar efforts are underway at the old Port Harcourt Refinery and Kaduna Refinery, ensuring these facilities are enhanced and maintained to global standards for sustainable operation.”
The CCCO noted that the progress made in reviving the refineries were as a result of the support of President Bola Ahmed Tinubu and the leadership of the Group Chief Executive Officer of the NNPCL, Mele Kyari.
He said, “This progress has been driven by the visionary leadership of the NNPC Limited board and the management team led by GCEO Mele Kyari, alongside President Bola Ahmed Tinubu’s transformative policies in the energy sector. Together, they have achieved unprecedented milestones, setting NNPC Limited on a path to redefine energy security for Nigeria while positioning the company as a leader on the global energy stage.
“We extend an invitation to our esteemed former president to join us in this historic journey. His wisdom and experience are invaluable, and we deeply appreciate his insights and guidance, which will always be welcomed and cherished.
“Additionally, we warmly invite President Obasanjo to tour the rehabilitated refineries and witness firsthand the progress made under the leadership of NNPC Limited.
“We remain grateful for his enduring contributions to Nigeria’s development and are committed to building a brighter, more prosperous future for our nation. Together, we can continue to ensure energy security and deliver sustainable value to all Nigerians.”