Nigeria's Major Refineries in Port Harcourt, Kaduna, and Warri to Be Fully Privatized, Says Presidency

The federal government has announced plans to fully privatize the country's major refineries, including those in Port Harcourt, Warri, and Kaduna.

This decision was disclosed by Sunday Dare, President Bola Tinubu’s Special Adviser on Media and Public Communications, through a reforms tracker posted on his X handle.

The refineries, which collectively have an installed capacity of 445,000 barrels per day, have been underperforming despite substantial government investments in their rehabilitation.

The privatization initiative is expected to enhance local oil refining and production capabilities.

As Dare noted, "Full privatisation of Port Harcourt, Warri, Kaduna refining in the works. Local oil refining and production to peak steadily with Dangote and modular refineries active."

This strategic move is anticipated to boost Nigeria's refining capacity significantly and eliminate persistent fuel shortages, thereby ending the long-standing fuel queues that have plagued the nation.