• Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Intelligence
    • Policy Intelligence
    • Security Intelligence
    • Economic Intelligence
    • Fashion Intelligence
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • LBNN Blueprints
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Intelligence
    • Policy Intelligence
    • Security Intelligence
    • Economic Intelligence
    • Fashion Intelligence
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • LBNN Blueprints

Nigeria’s national oil company announces shutdown of state-owned refinery

Simon Osuji by Simon Osuji
May 24, 2025
in Business
0
Nigeria’s national oil company announces shutdown of state-owned refinery
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

The shutdown was announced in a statement issued on Saturday by Femi Soneye, Chief Corporate Communications Officer, who stated that the closure is temporary and intended to enhance the refinery’s efficiency and ensure its long-term viability.

The statement read: “The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to inform the general public that the Port Harcourt Refining Company (PHRC) will undergo a planned maintenance shutdown.”

“This scheduled maintenance and sustainability assessment will commence on May 24, 2025.” Soneye added.

According to NNPC Ltd, the maintenance operation will be conducted in coordination with relevant agencies, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to ensure transparency and technical precision throughout the process.

“We are working closely with all relevant stakeholders to ensure the maintenance and assessment activities are carried out efficiently and transparently,” Soneye said.

NNPC noted that the maintenance exercise is part of its broader efforts to boost national refining capacity and reduce reliance on fuel imports.

NNPC Ltd reaffirmed its commitment to enhancing energy infrastructure and ensuring sustainable energy security for Nigerians.

The company noted that the maintenance exercise is part of its broader efforts to boost national refining capacity and reduce reliance on fuel imports.

It also pledged to keep the public informed through regular updates on its official website and media channels during the maintenance period, and to implement measures to mitigate any potential disruptions to affected parties.

Related posts

Bitcoin Faces Rejection At $73,000: How Can It Hit $90,000?

Bitcoin Faces Rejection At $73,000: How Can It Hit $90,000?

March 6, 2026
Thousands of South Africans seek evacuation as Middle East war disrupts flights and borders

Thousands of South Africans seek evacuation as Middle East war disrupts flights and borders

March 6, 2026

Nigeria’s refinery challenges

However, this latest shutdown comes amid fresh scrutiny of PHRC’s inconsistent performance, with concerns over transparency and accountability.

The facility has been burdened by years of underperformance, failed upgrade plans, and rehabilitation setbacks; despite several rounds of funding and government guarantees.

Just last month, NNPC Ltd dismissed PHRC’s Managing Director, citing internal investigation reports and accountability issues, project delays, and alleged mismanagement of rehabilitation funds.

Although today’s maintenance announcement is seen as essential upkeep to maintain and improve production, critics argue it highlights deeper flaws in Nigeria’s refining strategy, particularly at Port Harcourt Refinery, which remains unable to achieve steady production despite years of major overhaul efforts.

Source link

Previous Post

AI may soon account for half of data center power use if trends persist

Next Post

Nigeria’s startup gets $1.2 million contract to secure two hydroelectric plants

Next Post
Nigeria’s startup gets $1.2 million contract to secure two hydroelectric plants

Nigeria's startup gets $1.2 million contract to secure two hydroelectric plants

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

KPMG report lists urgent priorities for Middle East family businesses

KPMG report lists urgent priorities for Middle East family businesses

9 months ago
Apollo trials vessel charger which attaches to offshore wind turbines

Apollo trials vessel charger which attaches to offshore wind turbines

2 years ago
ChatGPT Predicts 400% Rally to $3, Here’s When

ChatGPT Predicts 400% Rally to $3, Here’s When

2 years ago
How Much is Needed to Reach $1M at $0.05?

How Much is Needed to Reach $1M at $0.05?

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • Mahama attends Liberia’s 178th independence anniversary

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Global ranking of Top 5 smartphone brands in Q3, 2024

    0 shares
    Share 0 Tweet 0

Get strategic intelligence you won’t find anywhere else. Subscribe to the Limitless Beliefs Newsletter for monthly insights on overlooked business opportunities across Africa.

Subscription Form

© 2026 LBNN – All rights reserved.

Privacy Policy | About Us | Contact

Tiktok Youtube Telegram Instagram Linkedin X-twitter
No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • LBNN Blueprints
  • Quizzes
    • Enneagram quiz
  • Fashion Intelligence

© 2023 LBNN - All rights reserved.