As the Nigerian National Petroleum Company Limited continues its search for technical partners to operate the Port Harcourt, Warri, and Kaduna refineries, former President Olusegun Obasanjo has once again insisted that the facilities will never work.

Obasanjo spoke during a television interview aired on Saturday night by Sony Irabor Live, which was monitored by our correspondent.

He said, “One of the lessons that I learnt is that PPP (public-private partnership) works. Look, one project that has not been destroyed by the government in Nigeria is the NLNG (Nigeria Liquefied Natural Gas), where the private sector has 51 per cent, and the Nigerian government has 49 per cent.

“See what we did with Nigerian railways. See what we did with the national shipping company. See what we are doing now, even with the NNPC. The NNPC has refineries, and I said to people that it will never work. And a man had the audacity to say, ‘Am I a chemical engineer?”

Obasanjo spoke about his failed efforts to woo Shell, a global energy firm, into running the refineries. “Look, when I was there, I called Shell. I said, ‘Look, please, I beg you, come and take 10 per cent equity and run the refinery for us.’ They said no. I said, ‘Okay, if you don’t want to take equity, don’t take equity. Come and run the refineries. They said no,” he stated.

The former president narrated how he invited a top official of Shell for a one-on-one conversation to know why his offers were turned down.

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“So, I called him, and I said, ‘Tell me, be honest with me. Why don’t you want to handle this?’ He said first, they want to let me know that they make most of their profits on the upstream, not the downstream.

He said they run their downstream without making a loss, but they don’t make a lot of profit from it. It’s more of a service than a major profit-making. So that’s number one.

“Number two: he said our refineries are too small. This was when I was an elected President. He said our refineries are too small. One is 60,000 barrels, and another is 100,000 barrels. He said refineries at that time were in the range of 250,000 barrels to 300,000 barrels. Number three: he said our refineries are not well-maintained. We call quacks and amateurs to come and maintain our refineries. The refineries are not in good order. He said, ‘Number four, there’s too much corruption around our refineries, and they don’t want to be part of that,” Obansanjo explained.

He recalled that he counted the country lucky then when the President of the Dangote Group, Alhaji Aliko Dangote, told him of the willingness to offer $750m to take 51 per cent of two of the facilities.

“Until one day, Aliko (Dangote) came and offered $750m to take two of the refineries; that will be 51 per cent. I said, ‘Wow, God, you are really a God of miracles.’ I told Aliko to bring the money quickly. They brought the money, and they paid,” he said.

However, the Balogun Owu explained further that his successor, the late Umar Yar’adua, reversed the deal after he left office, claiming he was under too much pressure from the NNPC.

He mentioned that only the current NNPC Group Chief Executive Officer, Bayo Ojulari, has said the truth about the state of the refineries so far.

“When I left office, NNPC went to my successor and convinced him. So I got up. I went to Umar. I said, ‘Look, Umar, maybe you don’t know; this is why we did what we did.’ He said, ‘Well, NNPC came to me.’ I said, ‘But you know that NNPC cannot run this thing. He said he knew. I asked, ‘Then why did you give in? He said because of pressure. And I said, ‘Look, when you sell these refineries, you will not get 200 million (dollars) for them, because you will sell them as scrap.’

“Only the present NNPC head has told the country the truth. But in the meantime, I was told that they have spent about $16bn, which is only $4bn short of what Aliko used to build Africa’s largest refinery,” Obasanjo said.

In November 2025, the NNPC announced a fresh target of June 2026 to finalise the selection of technical partners for the refineries.

Ojulari said that despite the rehabilitation and reopening of the Port Harcourt and Warri refineries in 2024 before they were later reclosed, the facilities were operating “well below international standards”, making their products commercially uncompetitive, especially compared to the privately owned Dangote refinery.

Dangote said he built his refinery after the Yar’Adua administration reversed the sale of the NNPC refineries to him and his other associates. He is also of the opinion that the NNPC refineries may never work again.

The NNPC communications office has yet to respond to messages seeking reactions to the former president’s claims.

• The Punch

The leadership of Bayo Ojulari, as the Group Chief Executive Officer at the Nigerian National Petroleum Company Limited (NNPC Ltd) has resulted in a mega increase in crude oil production to 1.71 million barrels per day, the highest level recorded in five years.

This was detailed in its one-year performance report under Ojulari, made public at the official X handle of the GCEO on Sunday.

He described the report as a demonstration of accountability and measurable progress across the oil giant’s operations.

Providing a breakdown of achievements between April 2025 and April 2026, the company said its upstream subsidiary, NNPC Exploration and Production Limited, also recorded a milestone, reaching an all-time peak production of 365,000 barrels per day in December 2025.

It read, “Oil Production: Increased crude oil production to 1.71 million bpd (highest in five years). NEPL achieved an all-time peak production of 365,000 bpd in December 2025.

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PPLS 2000, 2001 PSC: Executed a model PSC for PPL 2000 & 2001 successfully. The first PSC to include comprehensive terms designed to facilitate the development of deepwater non-associated gas resources.”

The report further highlighted the execution of a new Production Sharing Contract model for oil blocks PPL 2000 and 2001, noting that the framework includes comprehensive terms to unlock deepwater non-associated gas resources, an area long considered underdeveloped in Nigeria’s energy mix.

It also disclosed that it supported the resolution of the long-standing dispute surrounding the former OPL 245 (Zabazaba/Etan) asset, which has now been converted into new Production Sharing Contracts covering PMLS 102 and 103, as well as PPLs 2011 and 2012.

In the gas segment, the company reported major infrastructure milestones, including the completion of the River Niger crossing of the Ajaokuta-Kaduna-Kano pipeline in July 2025, alongside the welding of the entire pipeline network.

It also confirmed the commissioning of the Assa North-Ohaji South processing plant and its connection to the Obiafu-Obrikom-Oben pipeline, a critical link in Nigeria’s domestic gas supply chain.

According to the report, gas supply rose to 7.5 billion standard cubic feet per day in 2025, supported by multiple commercial agreements. These include a Network Exit Agreement between NGIC and Dangote Fertiliser Limited, as well as supply deals involving NGML, Dangote Cement, and the Dangote Refinery.

The company added that it launched a Gas Master Plan in January 2026 and signed additional supply agreements, including one with CNG Ibese, while continuing optimisation work on the Soku gas pipeline infrastructure.

On refining, NNPC Ltd said it had introduced an Incorporated Joint Venture model aimed at repositioning its refineries to operate as commercially viable and self-financing entities.

It also confirmed the consolidation of its 7.25 percent equity stake in the Dangote Refinery, describing the move as critical to safeguarding national energy interests.

The company reiterated its continued crude oil supply to the refinery under the “crude-for-naira” initiative, a policy designed to reduce foreign exchange pressure and stabilise domestic fuel supply.

“Sustained support for Dangote Refinery through crude oil supply under the ‘crude-for-naira’ programme,” it added.

The NNPC Ltd said it strengthened its international footprint through strategic shipping partnerships with global firms, including Stena Bulk and Sonangol, while also launching a new crude grade, Cawthorne. It added that its Oleum lubricant brand had been expanded into the West African subregion.

In terms of project development, the company disclosed that it secured presidential approval for incentives aimed at unlocking the Final Investment Decision on the Bonga South West Aparo project under the OML 118 Production Sharing Contract.

Additionally, it signed a tripartite Memorandum of Understanding with China Gas Holding Limited and Peiyang Chemical Singapore PTE Ltd to accelerate gas commercialisation.

A major highlight of the report is the resumption of full monthly remittances to the Federation Account Allocation Committee since July 2025.

The NNPC Ltd added that it had also reintroduced monthly performance reporting and held its first-ever earnings call in November 2025, moves seen as part of efforts to improve transparency and investor confidence.

“Transparency: Reinstated monthly performance reporting. Held NNPC Limited’s first earnings call in November 2025. FAAC Remittances: Resumed full monthly payment into the Federation Account and continued consistent payment since July 2025.”

On human capital development, the company said it onboarded 1,000 new employees, dubbed “The Tigers,” and launched a new performance management system to drive efficiency and accountability. It also inaugurated the Women in NNPC programme to enhance gender inclusion and leadership opportunities.

The firm noted that it had embarked on a major internal restructuring under its “Fit4Future” initiative, aimed at transforming it into a globally competitive, profit-driven energy company.

Commenting on the report, Ojulari said the company’s performance reflects deliberate efforts to reposition NNPC Ltd as a transparent and results-driven organisation.

He stated, “Over the past year, we have delivered steady progress against our mandate, with measurable results across production, financial performance, infrastructure, and organisational culture.

“But this is more than a report on targets met. It is a statement of accountability to every Nigerian. At NNPC Limited, we are committed to leading with purpose, putting our best foot forward to build a more prosperous and sustainable energy future for our country.”

The NNPC Ltd transitioned into a fully commercial entity under the Petroleum Industry Act, with expectations to operate profitably while maintaining transparency and contributing to national revenue.

However, the company has faced scrutiny in recent years over oil theft, declining production, and delays in remittances to the Federation Account.

The latest report signals a strategic shift, particularly with the recovery in production levels, renewed focus on gas as a transition fuel, and reforms in refinery operations.

The sustained implementation of the “crude-for-naira” policy and deeper collaboration with private sector players such as the Dangote Group are also seen as critical to stabilising Nigeria’s downstream sector and reducing dependence on fuel imports.

Ojulari was appointed on April 2, 2025, following the dissolution of the NNPC board and the removal of his predecessor, Mele Kyari, in what the presidency described as a strategic overhaul aimed at repositioning the national oil company.

The decision was part of a broader effort to improve operational efficiency, boost crude oil production, and restore investor confidence in the sector.

Ojulari, a seasoned petroleum engineer, brought decades of industry experience into the role, having previously served as Managing Director of Shell Nigeria Exploration and Production Company and later as Chief Operating Officer at Renaissance Africa Energy.

Osun State Governor, Ademola Adeleke has justified the activation of the Osun State Security Trust Fund on the ground of growing insecurity and public sector funding challenges facing all levels of government.

To show commitment of the state government, Gov Adeleke announced a contribution of three hundred million naira (N300m) to the trust fund.

On his part, billionaire philanthropist and brother of the state governor, Dr. Deji Adeleke donated five hundred million naira (N500m) while several businesses contributed various amounts.

The governor also used the occasion to announce the imminent sharing of refurbished Armoured Personnel Carriers and new patrol vehicles, declaring that “the administration is determined to maintain Osun’s record as one of the most peaceful states in the country”.

Launching the security trust fund at Osogbo, the governor decried the abandonment of the trust fund initiative by the Oyetola administration, describing the implementation of the trust fund as ‘long overdue’.

According to the governor, several states in Nigeria have established security trust funds. Osun started the process but this was abandoned under the immediate past administration of Mr Gboyega Oyetola.

“Our government decided to revive the initiative by updating the law and organising the launching today. A security trust fund is a matter of necessity considering the security climate in Nigeria and Osun state.

“We all know Nigeria faces security challenges. Yet, available public financing resources are limited. Governments at all levels then initiate public-private partnership to bridge the funding gap.

“It is neither a political project nor a self-serving policy. This is a necessary policy to secure our people. Only an irresponsible government will abandon the PPP arrangement that is working so well in Lagos, Kaduna, River states among others. Ours is a responsible leadership with people-oriented innovations, policies and programmes.

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“This Fund is designed to provide sustainable funding for modern security infrastructure. Through this Fund, we will establish a modern Situation Room with real time CCTV surveillance. We will continue the provision of operational tools required by our security agencies.

The governor appreciated all individuals, corporate organisations and stakeholders that have been contacted. “We appreciate your positive disposition. Today, I am inviting, for partnership, the private sector, financial institutions, development partners, professional bodies and all sons and daughters of Osun State.

“As a trust fund regulated by law, I assure you of strict accountability, transparency and due process in the management of the trust fund”, the governor said.

Secretary to the State Government who also doubled as the deputy chairman of the trust fund, Hon Teslim Igbalaye congratulated the governor for activating the Fund after its enabling law was passed as far back as 2012 while several special guests pleaded support for the initiative.