Full Privatisation of Port Harcourt, Warri Refineries Underway – FG

The presidency has signaled that plans for the complete privatisation of the state-owned refineries, including the Port Harcourt, Warri, and Kaduna refineries, are underway.

Sunday Dare, the Special Adviser to the President on Media and Public Communications, disclosed this in a bulletin released on Sunday via his official X (formerly Twitter) handle.

The circular highlighted key milestones achieved by the administration in the oil and gas sector.

According to Dare, the full privatisation of these refineries is “in the works,” though he did not specify a timeline for its execution.

The four national refineries, which have remained non-functional for over four decades despite trillions of naira invested in them, have left Nigeria reliant on imported petrol.

This dependence has exerted significant pressure on the nation’s foreign exchange reserves.

Dare, however, said: “Full privatization of Port Harcourt, Warri and Kaduna refining in the works.

“With full local refining gradually being met, days of fuel queues to end.”