The Nigerian National Petroleum Company Limited is reviewing technical and financial partnership options to complete and restart the Warri and Port Harcourt refineries as petroleum marketers renew calls for the facilities to resume operations.
The development comes amid rising petrol and diesel prices, with stakeholders pushing for increased domestic refining to reduce Nigeria’s dependence on imported petroleum products.
The National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria, Joseph Obele, said petrol was selling between N1,400 and N1,500 per litre in some locations, while diesel had risen above N2,000 per litre.
Obele called on the Federal Government and NNPC Ltd to urgently restart the government-owned refineries, saying increased domestic refining could help reduce dependence on imported petroleum products and cushion the impact of rising international crude oil prices on Nigerians.
Responding to the concerns, a senior NNPC Ltd official, who spoke on condition of anonymity because he was not authorised to speak publicly on the matter, said the company was evaluating partnership options that would ensure the refineries operate on a commercially sustainable basis.
“NNPC Ltd recognises public interest in fuel prices and the operational status of its refineries. The company remains committed to restoring the refineries to sustainable and commercially viable operations.
“To this end, NNPC Ltd is evaluating technical and financial partnership options for the completion, operation and long-term optimisation of the facilities.”
As part of the process, NNPC Ltd signed a Memorandum of Understanding with Sanjiang Chemical Company Limited on April 30, 2026.
According to the official, the agreement covers potential technical, operational and investment opportunities relating to the Warri and Port Harcourt refineries and associated petrochemical development.
The parties have also commenced preliminary technical assessments of the Warri Refinery and Petrochemical Plant and the Port Harcourt Refinery.
NNPC had earlier announced that its agreement with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited would explore a potential technical equity partnership for the completion and operation of the Warri and Port Harcourt refineries.
The proposed framework also includes refinery expansion, petrochemical development and gas-based industrial opportunities.
However, the latest position from NNPC indicates that discussions have not yet resulted in a definitive commercial arrangement.
“Discussions and evaluations remain ongoing, and any definitive arrangements will be subject to satisfactory due diligence, commercial viability and all applicable approvals,” the official said.
The official added that NNPC Ltd would provide further details when the negotiations reach a significant milestone.
The review of partnership options comes as petroleum marketers and other stakeholders continue to push for the revival of Nigeria’s government-owned refineries, particularly amid rising fuel costs and concerns over the country’s reliance on imported petroleum products.
