NEWS
BREAKING: ‘We Were Just Wasting Money Running Refineries’ — NNPC GCEO Breaks Silence
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Bashir Bayo Ojulari, has admitted that Nigeria’s state-owned refineries were operating at heavy losses, prompting the company to halt operations to prevent further financial waste.
Ojulari made the revelation on Wednesday in Abuja during a fireside chat titled “Securing Nigeria’s Energy Future” at the Nigeria International Energy Summit 2026, where he spoke candidly about the commercial realities facing the nation’s refining sector.
According to the NNPC boss, public anger over the poor performance of the refineries was justified, considering the huge public funds invested over the years and the high expectations placed on the facilities.
ALSO READ: SERAP Sues NNPC Ltd Over Missing N22.3bn, $49.7m, £14.3m, €5.2m Oil Money
“On the refineries, Nigerians were angry. A lot of money has been spent, and expectations were very high. We were under extreme pressure,” Ojulari said.
He explained that shortly after assuming office, his management team carried out a detailed review of refinery operations, which revealed that the facilities were running at what he described as a monumental loss to the country.
“The first thing that became clear is that we were running at a monumental loss to Nigeria. We were just wasting money,” he stated.
Ojulari disclosed that despite NNPC consistently supplying crude oil cargoes to the refineries on a monthly basis, utilisation rates remained between 50 and 55 per cent, resulting in significant value erosion.
He added that large sums were being spent on operations and contractors, yet the financial returns failed to justify the costs.
“When you look at the net, we were just leaking away value,” he said.
The NNPC chief noted that there was no clear or credible plan in place to reverse the losses, making continued operations economically unjustifiable.
As a result, he said one of the first major decisions of his administration was to shut down the refineries temporarily to stop further losses and allow for a comprehensive reassessment.
“We decided to stop the refinery and do a quick check. If things were properly lined up, we would reopen and work on them,” Ojulari explained.
He further revealed that part of the value destruction stemmed from the quality of products being produced, citing the Port Harcourt Refinery, where crude processing yielded mid-grade products with limited economic value.
Ojulari acknowledged that the decision to halt operations was politically sensitive, noting that NNPC had historically faced pressure to keep the refineries running in order to guarantee fuel supply.
“There were political pressures to keep the refinery products flowing, but when you are trained to focus on commerciality and profitability, you cannot ignore reality,” he said.
Nigeria’s four state-owned refineries — Port Harcourt (two plants), Warri and Kaduna — have for decades operated far below capacity despite several turnaround maintenance projects costing billions of dollars.
Ojulari’s remarks represent one of the most candid acknowledgements by an NNPC chief executive that continued refinery operations, under existing conditions, were financially unsustainable.
NEWS
‘I’ve Been a Threat to Gov’t Since Age 20’ – Sowore
African Action Congress (AAC) presidential candidate, Omoyele Sowore, has accused government authorities of repeatedly targeting him, declaring that he has been a threat to the government since he was 20 years old.
Sowore made the declaration during an appearance on Channels Television’s Politics Today on Friday, following an alleged attack on him and members of his team in Ado-Ekiti, Ekiti State.
The activist expressed frustration over questions about why he believed the authorities considered him a threat, insisting that attention should instead be focused on the circumstances surrounding the incident.
SEE ALSO: Sowore Challenges Okonjo-Iweala to Name Those Behind Alleged $2.4bn Subsidy Fraud
During the interview, Sowore alleged that the Ekiti State Commissioner of Police, Falade Adegoroye Michael, knew the individuals responsible for the attack, claiming that the commissioner visited them while they were receiving medical treatment.
“So he knew the people who attacked us,” Sowore said.
He further alleged that shortly after the commissioner left, the police issued a statement describing the incident as an altercation.
Questioning the circumstances surrounding the incident, Sowore also raised concerns about the alleged removal of CCTV cameras at the location.
“And why are they trying to remove the camera?” he asked.
Sowore also recalled previous encounters with security agencies, alleging that a tracking device had once been placed under his vehicle and traced to the Department of State Services (DSS).
“They placed a tracker under my car. It was traced to the DSS,” he said.
The AAC candidate further referenced an incident during the administration of former President Muhammadu Buhari, alleging that he was abducted from a hotel in Lagos.
He also claimed that DSS operatives attempted to take him away from a court premises less than two months ago, but were resisted.
Responding to questions about why he believed the authorities were after him, Sowore described the line of questioning as condescending.
He subsequently declared: “I’ve been a threat to the government since I was 20 years old, and they have not given up on me.”
He added: “They want to kill me, and you know it.”
Sowore maintained that the central issue was the alleged attack in Ekiti rather than questions about his perception of the government’s attitude towards him.
“The issue is that we were attacked, unprovoked, in Ekiti State, and we have given you what happened,” he said.
He also challenged journalists not to pretend they were unaware of what he described as continued attempts to target him.
“Don’t pretend like you don’t know,” he added.
How the Ekiti Incident Happened
The controversy followed an incident at a restaurant in the Dalimore area of Ado-Ekiti on Friday, where Sowore and members of his team sustained injuries during a confrontation with some individuals.
Sowore had earlier raised an alarm on social media, alleging that armed men attacked his team and that their whereabouts were initially unknown.
In a post on his X account, he accused the attackers of being government-sponsored and alleged that the DSS provided them with his team’s location.
“We have been brutally attacked and injured by well armed government-sponsored thugs in Ado-Ekiti, Ekiti State,” he wrote.
He subsequently accused the security agency of providing the attackers with their exact location to facilitate the assault.
However, the Ekiti State Police Command disputed reports that Sowore had been kidnapped, explaining that officers responded to a distress call concerning an altercation involving the AAC candidate and some individuals at a restaurant.
The Police Public Relations Officer, Sunday Abutu, said operatives were immediately deployed to the scene and rescued Sowore before taking him to the Police Hospital in Ado-Ekiti for medical attention.
According to the police, Sowore sustained a minor injury during the incident.
The command also disclosed that the Commissioner of Police had ordered a discreet investigation to establish the circumstances surrounding the incident, identify those involved and ensure that anyone found culpable was brought to justice.
Sowore subsequently rejected the police description of the incident as an altercation, insisting that he and his associates were attacked.
“There was no altercation! We were attacked!” he declared.
He also accused the police command of downplaying the severity of the incident despite what he said the commissioner witnessed during his visit.
The conflicting accounts have left questions surrounding the circumstances of the incident, with the police investigation expected to establish what transpired and identify those responsible.
The DSS had yet to publicly respond to Sowore’s allegations at the time of this report.
NEWS
Tinubu Sends Six NMDPRA Executive Director Nominees to Senate, Retains Three
President Bola Tinubu has forwarded the names of six nominees for executive director positions at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to the Senate for confirmation, retaining three existing directors while introducing three new nominees.
The nominations were conveyed to the Senate in a letter from the President, according to a statement issued on Friday by his Special Adviser on Information and Strategy, Bayo Onanuga.
The six nominees comprise three executive directors seeking reappointment and three new candidates proposed for different leadership positions within the petroleum regulatory agency.
SEE ALSO: Tinubu Promises to Boost Local Production with NNPC Refineries
The officials nominated for reappointment are Abiodun Adeniji, Executive Director of Finance and Accounts; Ogbugo Kalu Ukoha, Executive Director of Distribution Systems, Storage and Retailing Infrastructure; and Dr Mustapha Lamorde, Executive Director of Health, Safety, Environment and Community.
The three new nominees are Mobolaji Tajudeen Musa, proposed as Executive Director of Hydrocarbon Processing Plants, Installations and Transportation Infrastructure; Ogechukwu Modie, nominated as Executive Director of Economic Regulations and Strategic Planning; and Said Abutalib, nominated as Executive Director of Corporate Services and Administration.
If confirmed by the Senate, all six nominees will serve five-year terms.
President Tinubu urged the lawmakers to consider the nominations expeditiously, stating that the appointments would ensure institutional continuity and strengthen the Authority’s oversight capacity.
In a related development, the President has approved the appointment of Jumoke Gafar as Secretary to the Board/Authority and Legal Adviser of the NMDPRA.
Her appointment is subject to the completion of the statutory processes stipulated under Section 46 of the Petroleum Industry Act (PIA).
The latest nominations follow Tinubu’s appointment of Engr. Rabiu Abdullahi Umar as Chief Executive of the NMDPRA in April.
The Senate’s consideration and confirmation of the six nominees will determine their formal appointment to the respective executive director positions.
NEWS
Osun Tackles Sanitation with Adhoc Road Sweepers
In the bid to improve environmental sanitation, the Osun State Government plans to engage with immediate effect, able-bodied men and women as ad hoc road sweepers.
Biztellers reports that the exercise would cover designated areas of the state.
The recruitment exercise, announced by the Osun State Taskforce on Environmental Sanitation (OSTES) is open to medically fit able bodied men and women who are residents of the areas where they intend to work.
According to the public service announcement, applicants must be at least 30 years of age, medically fit and resident in their preferred areas of assignment.
READ ALSO: US Hails DPRP as Nigeria’s Petroleum Exports Surge Seven Times
The designated areas mentioned by the Taskforce include Akoda- Abere, Ataoja -Ogo-Oluwa, Olaiya -Old Garage, Igbonna -Ayetoro, Power Line – Ota-Efun and Kobongbogboe.
Other areas covered by the exercise are Ataoja- Dele Yes Sir, Stadium- Testing Ground and Ilesa- Garage, as well as Oke-Fia -Dada Estate, Dele Yes Sir- Lameco and Oroki Housing Estate.
Interested applicants are required to submit application letters to the General Manager, Osun Waste Management Agency, at its office located at the former Boreepo House, West Bye-Pass, Ring Road, Osogbo.
The announcement further stated that the deadline for submission of applications is Thursday, November 12th, 2026.
The recruitment is expected to support routine road sweeping and complement the state’s efforts to promote a cleaner, healthier and safer environment.
Applicants have been advised to ensure that they meet the stated requirements and reside within the areas where they seek to be deployed.
It would be recalled that the state governor, Senator Ademola Adeleke, had earlier declared every Thursday of the week as Environmental Sanitation Day throughout the state during which offices, markets, shopping malls and homes among other public places are to be swept clean between 8am and 10am.





