The Nigerian National Petroleum Company Limited (NNPCL) has responded to a recent interview by former President Olusegun Obasanjo regarding poor management of the country’s refineries and $2 billion in financial losses.
Obasanjo, during an interview with Channels Television, criticised subsequent administrations for rejecting a $750 million offer from business magnate Aliko Dangote to manage the Port Harcourt and Kaduna refineries.
The former President mentioned corruption and poor maintenance as key factors that deterred the likes of Shell from taking on the management of the refineries.
In response, NNPCL’s spokesperson, Femi Soneye, who refuted the statement said the corporation has made tremendous progress under the company’s new structure as a private entity.
“We extend an open invitation to President Obasanjo for a tour of the rehabilitated refineries to witness firsthand the progress made under the new NNPC Limited,” Soneye stated.
According to him, the rehabilitation of the Port Harcourt Refinery was not merely a Turnaround Maintenance effort but a complete overhaul aimed at bringing the facility to world-class standards. Similar efforts, he noted, are ongoing at the Kaduna and Warri refineries.
“As part of this transformation, NNPC Limited has gone beyond oil and gas to become an integrated energy company. One of our notable achievements is the complete rehabilitation of the Port Harcourt Refining Company and Warri Refinery,” he added.
Soneye further stated that the NNPCL has evolved from being a government-run corporation to a profit-driven private energy company.
He said this transformation has enabled the company to focus on developing cleaner, cheaper, and more sustainable energy solutions alongside traditional oil and gas resources.
“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,” the statement concluded.
