NNPC BEGINS EVALUATION OF CHINESE REFINERY PARTNERSHIP DEAL

The Nigerian National Petroleum Company Limited (NNPC) has commenced a comprehensive evaluation of a major partnership proposal with Chinese firms for the development and modernisation of additional refinery capacity in Nigeria.

The proposed collaboration aims to boost domestic refining output, reduce reliance on imported petroleum products, and enhance energy security. NNPC Group Chief Executive Officer, Mr. Mele Kolo Kyari, confirmed that technical and financial assessments are underway to ensure the deal aligns with national interests. “We are carefully evaluating all aspects to maximise benefits for Nigeria,” Kyari stated.

The initiative is expected to attract significant investment and technology transfer, potentially creating thousands of jobs and supporting the government’s agenda for economic diversification.

Stakeholders have expressed optimism about the potential impact, while calling for transparency and adherence to best practices in the negotiation process.

The evaluation process is expected to be completed in the coming months, paving the way for final decisions on the partnership.