The Group CEO of Nigerian National Petroleum Company Limited (NNPC Ltd), Engr. Bashir Ojulari, revealed that the company is engaging partners with proven refining expertise to build sustainable, profitable solutions for its refineries.
Speaking at the Nigeria International Energy Summit (NIES 2026) in Abuja, Ojulari said the focus has shifted from financing and construction to operational excellence.
He explained, “Getting refineries up and running requires financing, a competent EPC contractor, and world-class operational capacity. That is our focus.”
Ojulari stressed that past refinery operations led to huge losses due to low utilization and value destruction. “We were just wasting money,” he said, highlighting the decision to halt refinery operations for a major review.
He credited improved crude theft reduction and pipeline stability to stronger collaboration with upstream operators and government-backed security interventions, including AI-enabled surveillance and community engagement.
On gas development, Ojulari emphasized the new NNPC Gas Master Plan, aligned with the Federal Government’s Decade of Gas initiative, aimed at boosting local gas utilization and economic growth.
He praised President Tinubu’s appointment of industry experts to NNPC’s board, saying it enhances governance and commercial discipline.
Addressing Nigeria’s production targets, Ojulari urged measured expectations, noting, “Our OPEC positioning is about capacity and creating a buffer to avoid operational strain.”
On refineries, Ojulari outlined a new strategy to partner with operators who would take equity stakes and lead operations, moving away from pure contractor models. “We want sustainable solutions that are self-financing,” he said.
He also welcomed collaboration with the Dangote Refinery, calling it a critical asset that provides operational breathing space.
Ojulari concluded, “Our goal is to rebuild skills, improve governance, and ensure Nigeria’s refineries operate profitably for decades to come.”
