President Bola Tinubu has committed to rehabilitating Nigeria's three dormant national refineries, declaring that the Port Harcourt, Warri and Kaduna facilities will not be allowed to become stranded investments even as private refining capacity expands. Speaking through the Permanent Secretary of the Ministry of Petroleum Resources, Mrs Patience Oyekunle, at the 20th OTL Africa Downstream Energy Week in Lagos on Monday, Tinubu outlined the government's priorities for the petroleum sector. The refineries, managed by the Nigerian National Petroleum Company Limited, have remained non-operational despite billions of naira spent on turnaround maintenance over the years. The NNPC leadership has signed a memorandum of understanding with two Chinese firms for the revamp of these facilities.
Tinubu said the government is pursuing a more rigorous and commercially sustainable approach to the rehabilitation of the national refineries, supported by technical assessments, stronger partnerships and improved operational discipline. The president's objective is clear: Nigeria must refine more of its crude oil, create more value domestically, and become a reliable energy supplier to Africa. This reflects the country's broader shift from an industry historically defined by import dependence and infrastructure constraints to one increasingly driven by domestic refining, private investment, market efficiency and value addition.
The president highlighted the Dangote Petroleum Refinery as a major turning point for Nigeria's petroleum industry, noting that it has reached its nameplate capacity of 650,000 barrels per day. This development strengthens Nigeria's prospects of becoming a net exporter of refined petroleum products and creating opportunities for regional supply. Tinubu described the emergence of large-scale private refining capacity as an important milestone, though emphasising that the government remains committed to ensuring its own national refining assets are utilised.
Tinubu's vision extends beyond increasing crude oil production. He stressed that Nigeria needs to develop an energy economy in which petroleum resources support industrialisation, manufacturing and other productive activities. For decades, Nigeria has exported crude oil while importing substantial portions of the petroleum products required to power its economy. The administration seeks to change this pattern by retaining more value within the country through refining, petrochemicals, gas processing and other energy-intensive industries. The reforms introduced under the Petroleum Industry Act are intended to create a transparent, commercially viable and investment-friendly industry capable of delivering greater value to Nigerians.
Tinubu called on petroleum industry stakeholders to contribute more to domestic industrial development through investment in local content, technology, infrastructure and human capital. He warned that extracting resources without creating additional value was no longer consistent with the government's expectations and urged operators to take greater responsibility for environmental protection and community development. The president also invited investors with the technical competence and financial capacity to take advantage of opportunities in Nigeria's petroleum industry, saying the country remains open to such businesses.