Business & Finance

Nigeria’s Refineries to be Privatized 12 Months After Repairs – Kachikwu


Nigeria’s Minister of State for Petroleum Resources, Ibe Kachikwu, has stated that the country is in talks with oil majors Chevron, France’s Total and Italy’s ENI to get help revamp the country’s ailing refineries.

According to Kachikwu, Nigeria wanted to privatize the refineries within 12 months following repairs.

“We have gotten commitments from some of the majors. (ENI’s) Agip has indicated interest to work with us on Port Harcourt, Chevron on Warri,” he told the Senate or upper house. “We are talking to Total on Kaduna.”

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Kachikwu has previously said NNPC was looking at partnerships or takeovers.

“We are advertising just in case there are better terms out there,” he said, adding that NNPC was also seeking partners to run pipelines and fuel depots as joint ventures.

Nigeria has been trying to restart its outdated refineries in Port Harcourt, Warri and Kaduna to end its dependency on costly fuel imports.


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