By Boluwatife Oshadiya
Key Points
- NNPC signs MoU with Chinese firms for refinery revival
- Agreement targets Port Harcourt and Warri facilities
- Partnership to include upgrades, petrochemicals, and gas-based projects
- Deal signals renewed push to restore domestic refining capacity
Main Story
The Nigerian National Petroleum Company Limited has entered into a Memorandum of Understanding (MoU) with two Chinese firms to advance plans for the rehabilitation, expansion, and long-term operation of Nigeria’s key refining assets.
The agreement was signed with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd in Jiaxing City, China, as part of efforts to secure technical equity partnerships for the Port Harcourt and Warri refineries.
Under the proposed framework, the collaboration will focus on completing outstanding rehabilitation works, as well as the operation and maintenance of both facilities to ensure sustainable and efficient performance.
The partnership also includes plans for capacity expansion, upgrades to meet cleaner fuel standards, and integration of petrochemical production capabilities. Additionally, the initiative will explore the development of gas-based industrial hubs co-located with the refineries to maximise downstream value.
What’s Being Said
NNPC Group Chief Executive Officer, Bashir Bayo Ojulari, described the agreement as a major milestone following months of negotiations.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets,” Ojulari stated.
He added that the MoU represents a critical step toward identifying credible technical partners capable of restoring Nigeria’s refining capacity and driving industrial growth.
What’s Next
The agreement remains subject to further negotiations and regulatory approvals, with definitive partnership arrangements expected in due course. If successfully executed, the initiative could significantly reduce Nigeria’s reliance on imported refined petroleum products and strengthen domestic energy security.
 with two Chinese firms to advance....){kind=link}