Nigeria: NNPC wants to hand over management of its refineries to the private sector

In a press release issued on Wednesday 8 April, the Nigerian National Petroleum Corporation (NNPC), the national oil company, announced its intention to eventually hand over the management of the country’s four state-owned refineries after they have been upgraded. This decision will involve the definition of an « O&M (Operation and Maintenance) contract with a private partner » and reflects the desire to try « a different model », according to Mele Kyari, the company’s CEO, since the Nigerian public company is regularly criticised for the way it conducts its operations. Included in President Buhari’s action programme, the NNPC refinery rehabilitation project is expected to be completed by 2022.