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The Nigerian National Petroleum Company Limited has taken a formal step towards reviving its long-troubled refining infrastructure, signing a Memorandum of Understanding with two Chinese companies for a potential Technical Equity Partnership aimed at completing and operating the Port Harcourt and Warri refineries. The agreement was signed on April 30, 2026, in Jiaxing City,…
Billions of dollars in rehabilitation contracts and a decades-long search for efficiency have failed to shift former President Olusegun Obasanjo’s conviction that Nigeria’s state-owned refineries are beyond repair. As the Nigerian National Petroleum Company (NNPC) Limited pushes toward a June 2026 deadline to secure technical partners for the Port Harcourt, Warri, and Kaduna facilities,…
The Nigerian Senate has threatened to issue arrest warrants for former and current officials of the Nigerian National Petroleum Company Limited (NNPCL) over ₦210 trillion in unexplained financial records. The Senate Public Accounts Committee (SPAC) has directed the national oil giant to refund the staggering sum, which lawmakers claim was “not properly accounted for” in…
