The latest proposal by Nigerian National Petroleum Company Limited (NNPCL) to rehabilitate Port Harcourt and Warri refineries in partnership with Chinese companies has brought about fresh controversies.
The pact was inked between NNPCL and the two Chinese corporations on May 4, 2026. The two companies are Sanjiang Chemical Company Limited and Xingcheng Industrial Park Operation and Management Co. Ltd.Bayo Ojulari, NNPCL’s Group Chief Executive Officer (GCEO), pointed out that the partnership is geared towards rehabilitation, maintenance, expansion, and profitability.
This, according to the GCEO, is besides the efforts towards improving petrochemical production and establishing gas industrial centers around the plants.
However, the deal has faced harsh criticism from opposition politicians, industry experts, and businessmen who believe that Nigeria is setting itself up for yet another failed attempt to revive its refineries after spending billions of dollars in previous attempts.
Sources reveal that Nigeria had invested more than $25 billion in refinery maintenance since 2010 up until now, including $3.14 billion during President Muhammadu Buhari’s tenure.
Still, the country’s refineries are non-functional.Technical capabilities of the Chinese firms were also doubted. Investigation into the matter showed that while Sanjiang Chemical focuses on the production of petrochemicals, Xingcheng only manages industrial parks.
The deal was also termed opaque by businessmen and stakeholders like NECA and former Nigerian Vice President Atiku Abubakar, among others. They pointed out that the lack of transparency in the agreement could result in another unsuccessful attempt for Nigeria’s faltering oil industry
