The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with two Chinese companies aimed at fast-tracking the rehabilitation, restart, and expansion of the Port Harcourt and Warri refineries.
The agreement was signed on April 30, 2026, in Jiaxing City, China, by NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, alongside Guan Jianzhong, Chairman of Sanjiang Chemical Company Limited, and Bill Bi, Chairman of Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd.
According to a statement by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the MoU paves the way for a potential Technical Equity Partnership to complete outstanding rehabilitation works, ensure long-term operational efficiency, and drive expansion of the two refineries.
“The collaboration will extend beyond rehabilitation to full-scale operation and maintenance of the facilities to achieve best-in-class, sustainable performance,” the statement said.
It added that the partnership would explore projects to reposition the refineries for the production of cleaner fuels and higher-value petroleum products, while also developing co-located gas-based industrial hubs and petrochemical industries.
Speaking after the signing, Ojulari described the deal as the result of over six months of intensive technical and commercial engagements.
He noted that the move marks a shift from traditional contractor-led rehabilitation to a performance-driven partnership model with shared risks and returns.
“This is an important step on the journey towards identifying potential technical equity partner or partners to restart and expand NNPC’s refineries,” Ojulari said.
The NNPC boss emphasised that the technical equity model would bring operational discipline, investment capacity, and accountability, ensuring that partners only benefit when the refineries perform optimally.
Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna have been largely underperforming for decades, leading to heavy reliance on imported petroleum products despite repeated rehabilitation attempts.
The latest agreement aligns with the federal government’s push for energy security and reduced fuel imports, following a new approach that seeks credible technical partners with “skin in the game.”
The MoU is not yet binding and remains subject to further detailed negotiations and regulatory approvals.
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