Former President, Olusegun Obasanjo, has alleged the Nigerian National Petroleum Corporation turned down a $750 million offer from businessman, Aliko Dangote, to manage the Port Harcourt and Kaduna refineries in 2007.

In a recent television interview, Obasanjo revealed that despite the NNPC’s awareness of its inability to effectively manage the refineries, it rejected Dangote’s proposal. 

He also alleged that NNPCL has been misleading Nigerians about the Port Harcourt refinery’s functionality.

 Meanwhile, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, has invited the former president to visit the now functional refineries, emphasizing the company’s commitment to transparency and accountability.

This invitation follows Obasanjo’s remarks, where he recounted failed attempts to privatize Nigeria’s refineries and highlighted financial losses incurred under government management.

Soneye assured Nigerians that the rehabilitation of the Port Harcourt Refining Company (PHRC) and the Warri Refinery was not a mere turnaround maintenance exercise but a full-scale overhaul designed to meet global standards, which is also ongoing at the old Port Harcourt and Kaduna refineries.

Soneye also dismissed reports suggesting that NNPCL plans to halt crude oil supply to the Dangote Refinery, describing them as baseless and untrue. The new NNPC Limited, he said, is committed not only to enhancing these refineries but also to maintaining them to global standards.

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