The Nigerian National Petroleum Company Limited (NNPC Ltd.) has signed a memorandum of understanding (MoU) with two Chinese firms as part of efforts to revive the country’s ailing refineries in Port Harcourt and Warri.
The agreement, reached on April 30 in Jiaxing City, China, involves Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd.. It is expected to pave the way for a technical equity partnership focused on completing, operating and maintaining the facilities.
In a statement issued by the company’s Chief Corporate Communications Officer, Andy Odeh, NNPC said the collaboration would also consider upgrading and expanding the refineries to enhance efficiency and profitability.
The Group Chief Executive Officer of NNPC, Bashir Ojulari, described the MoU as the outcome of months of engagement between the parties, noting that it reflects a shared commitment to unlocking value from Nigeria’s refining assets.
According to him, the partnership is aimed at identifying capable technical partners to restart operations and drive long-term sustainability of the refineries.
Ojulari added that discussions under the agreement would extend beyond refining to include the development of petrochemical capacity and gas-based industrial hubs around the facilities.
NNPC stressed that the MoU is preliminary and subject to regulatory approvals, but signals continued efforts to address the long-standing challenges facing the country’s state-owned refineries.
The development comes amid ongoing reviews of the Warri, Port Harcourt and Kaduna refineries, which have remained largely inactive despite repeated rehabilitation attempts. The Federal Government has also indicated openness to broader reforms, including possible divestment options for the assets.
