The Nigerian National Petroleum Company Limited (NNPC Ltd) has entered into a Memorandum of Understanding (MoU) with two Chinese companies aimed at restarting, completing, and expanding the Warri and Port Harcourt refineries through a potential Technical Equity Partnership.
The agreement was signed on April 30, 2026, in Jiaxing City, China, by NNPC Group CEO Engr. Bashir Bayo Ojulari, Sanjiang Chemical Company Limited Chairman Guan Jianzhong, and Bill Bi, Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.
Under the framework, the Chinese partners would support the completion of outstanding rehabilitation work at both refineries, as well as their operation and maintenance to achieve “best-in-class, sustainable performance.”
The collaboration also includes plans for upgrades and expansions to produce cleaner, higher-value petroleum products, alongside the development of petrochemical capacities and co-located gas-based industrial hubs to harness downstream opportunities.
Speaking after the signing, Engr. Ojulari described the MoU as a significant milestone following more than six months of technical and managerial engagements between NNPC and the Chinese firms.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria, and the collective weight required for success,” Ojulari said. He added that the agreement represents a key step toward identifying technical equity partners to restart and expand the refineries while exploring opportunities in petrochemicals and gas-based industries.
The MoU signals the parties’ intention to advance discussions in good faith, with any final agreements to be subject to customary regulatory approvals and due diligence.
The Port Harcourt and Warri refineries have been largely non-operational for years, contributing to Nigeria’s heavy reliance on imported refined petroleum products despite being Africa’s largest crude oil producer.
Successful rehabilitation and expansion of the facilities are expected to boost domestic refining capacity, reduce import dependency, and create broader economic benefits through petrochemical and industrial development.
This latest development comes as NNPC continues efforts to revitalise Nigeria’s downstream petroleum sector. Further details on timelines, investment amounts, and equity structures are expected to emerge as negotiations progress.
