Nigeria’s state-owned oil company, NNPC Ltd, is actively seeking technical equity partners to help revive its three major refineries, according to CEO Bayo Ojulari.

The refineries, which have a combined capacity of about 445,000 barrels per day, have remained largely idle despite several past rehabilitation attempts and heavy investments.

The move is part of a broader government effort to end the country’s long-standing dependence on imported fuel and position Nigeria as a net exporter of refined petroleum products.

Ojulari explained that the company is conducting a detailed operational review to identify viable partnership models and attract investors with the technical and financial capability to restore the facilities to full production.

“We are looking ahead with optimism to ensure our refineries operate effectively. We are dedicating significant time to a detailed review and are eager to implement our insights,” he stated.

Industry analysts note that NNPC’s strategy aligns with Nigeria’s national energy security objectives, which include rehabilitating the state refineries and ensuring synergy with private sector players such as the Dangote Petroleum Refinery.

If successful, the revival of the refineries could significantly reduce Nigeria’s reliance on imported fuel, conserve foreign exchange, and boost domestic refining capacity.

However, the process will require addressing years of under-performance, renegotiating legacy contracts, and securing credible partners capable of sustaining efficient operations.