Port Harcourt Refinery Reopening Was a Waste of Resources — NNPC GCEO Reveals

The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Engr. Bayo Ojulari, has stated that the reopening of the Port Harcourt Refinery and Petrochemical Company turned out to be a waste of resources.

Ojulari made this disclosure while speaking on the challenges surrounding Nigeria’s refining sector and the need for more efficient investment decisions. According to him, despite the efforts and funds committed to reviving the facility, the outcome did not deliver the expected value or long-term sustainability.

The Port Harcourt Refinery, which had remained inactive for years, was reopened amid high public expectations that it would help reduce fuel importation and ease energy costs across the country. However, the NNPC boss noted that the resources used in restarting operations could have been better invested in more viable and modern solutions.

His comments have sparked fresh conversations about the future of local refining in Nigeria, as well as the country’s broader strategy for achieving energy security. Stakeholders believe the statement may signal a shift toward alternative refining partnerships, private sector involvement, and long-term infrastructure planning.

The development comes at a time when Nigerians continue to face high fuel prices and supply concerns, increasing the pressure on authorities to deliver sustainable and cost-effective solutions in the oil and gas sector.