The National Publicity Secretary of the Petroleum Products and Retail Owners Association of Nigeria, Joseph Obele, has disagreed with the decision of the Nigerian National Petroleum Company Limited ruling out the sale of the Port Harcourt refinery.

In his personal view as a community stakeholder in Port Harcourt, Obele said he “strongly disagreed with the Nigerian National Petroleum Company Limited’s decision to rule out the sale of the Port Harcourt Refining Company.”

Obele stated in a chat with our correspondent that the comment by the Group Chief Executive Officer of the NNPC, Bayo Ojulari, that the refinery would not be privatised was not good news to him, saying plans to keep the Port Harcourt refinery under NNPC management are concerning.

According to him, private firms tend to prioritise the interests of host communities, unlike the government-owned ones.

“This isn’t good news. Plans to sell the Warri and Kaduna refineries while keeping Port Harcourt under NNPC management are concerning, given NNPC’s history of corruption and favouritism. Private firms tend to prioritise host communities’ interests, as seen with Indorama Petrochemical,” he stated.

Obele stated that the NNPC had consistently failed to meet Nigerians’ expectations in its management of government-owned refineries.

“The NNPC has consistently disappointed Nigerians with its inefficient management of refineries, leading to fuel scarcity, price hikes, and economic hardship. Its track record of corruption, inefficiency, and neglect is well-documented. It’s time for a change,” he stated.

According to him, the privatisation of the Port Harcourt refinery would bring numerous benefits, including increased efficiency and productivity; much-needed investment and capital injection; expertise and technology transfer; job creation and economic growth for the local community; reduced bureaucratic red tape and corruption; improved accountability and transparency; enhanced competitiveness in the global market; and better management and utilisation of resources, among others.

Obele added that the gains of privatisation would far outweigh the costs, and it is in the best interest of the community and the nation at large.

The university lecturer called on President Bola Tinubu to intervene by directing that the Port Harcourt refinery be privatised in the interest of transparency, efficiency, and economic growth.

“The community is ready to receive a private firm taking over the refinery with the highest sense of hospitality and cooperation. We assure any private firm of a warm welcome and collaborative working relationship to ensure the refinery’s success, which will in turn benefit our community and the nation.

Last week, the NNPC said it officially ruled out the sale of the Port Harcourt refinery, reaffirming its commitment to completing “high-grade rehabilitation” and retention of the plant.

Ojulari was said to have announced this at a company-wide town hall meeting at the NNPC Towers, Abuja.

He stated that the position isn’t a shift. Rather, it was informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna and Warri refineries.

The statement indicted the past NNPC executive, quoting Ojulari as saying that “the ongoing review indicates that the earlier decision to operate the Port Harcourt refinery prior to full completion of its rehabilitation was ill-informed and sub-commercial.”

The statement read further, “Although progress is being made on all three, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery. Thus, selling is highly unlikely, as it would lead to further value erosion.

The announcement came in the wake of widespread speculation following his remarks at the 2025 OPEC Seminar in Vienna, Austria, earlier this month, where he said during an interview with Bloomberg that “all options are on the table.”

The Port Harcourt refinery was shut down on May 24 for a one-month maintenance. However, it has not been reopened two months later.

The President of the Dangote Group, Alhaji Aliko Dangote, has said the refineries may never work again after gulping up to $18bn.