Port Harcourt refinery privatisation debate heats up as PETROAN’s Joseph Obele criticises NNPC’s decision to retain control, citing inefficiency and corruption

Port Harcourt refinery privatisation has sparked fresh debate, as Joseph Obele, National Publicity Secretary of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), criticized the Nigerian National Petroleum Company Limited (NNPC) for ruling out the sale of the long-troubled facility.

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In a strongly worded statement during an interview with our correspondent, Obele said he “strongly disagreed” with NNPC’s decision, calling it a missed opportunity for progress.

“This isn’t good news,” Obele said. “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.”

Citing the successful community engagement by private firms like Indorama Petrochemical, Obele argued that private ownership offers more transparency, accountability, and efficiency than government control.

He further described NNPC’s track record in managing Nigeria’s refineries as “inefficient and corrupt”, stating that mismanagement had led to fuel scarcity, inflation, and economic strain for ordinary Nigerians.

“The NNPC has consistently disappointed Nigerians. It’s time for a change,” he declared.

According to Obele, privatising the Port Harcourt refinery would lead to:

* Increased productivity and efficiency
* Capital investment and technological upgrades
* Job creation and local economic growth
* Reduced corruption and bureaucracy
* Global competitiveness

He urged President Bola Tinubu to intervene by ordering the privatisation of the refinery in the interest of economic development and transparency.

“Our community is ready to welcome any reputable private investor. We’re committed to collaboration and success,” Obele added.

The controversy comes after NNPC CEO Bayo Ojulari reaffirmed during a town hall meeting that the company has ruled out selling the refinery, citing ongoing technical and financial reviews.

Ojulari said the previous plan to operate the facility before full rehabilitation was “ill-informed,” adding that the refinery needs advanced partnerships  not a sale  to avoid further “value erosion.”

Despite this, the Port Harcourt refinery remains shut, having closed for a one-month maintenance in May 2025 and not reopened two months later.

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Billionaire industrialist Aliko Dangote also recently expressed pessimism, suggesting Nigeria’s refineries may “never work again” despite over $18 billion in rehabilitation spending.