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Nigeria: Monumental losses behind closure of govt refineries – Ojulari — Africa Links 24

Nigeria: Monumental losses behind closure of govt refineries – Ojulari — Africa Links 24

Africa Links 24 with Ibrahim Ramalan
Published on 2026-02-05 16:36:39

The Nigerian National Petroleum Company Limited, NNPC Ltd., says the state-owned refineries were shut down after internal reviews revealed that they were operating at “monumental losses” and destroying value for the country.

Bashir Ojulari, Group Chief Executive Officer, NNPC Ltd. said this in a Fireside Chat on Securing Nigeria’s Energy Future at the ongoing Nigeria International Energy Summit, NIES 2026, on Wednesday in Abuja.

Speaking during an interactive session, Ojulari said…

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