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NNPCL lost $500m monthly to refineries operation-Ojulari
The country lost between $300 million and $500million monthly while the Port Harcourt Refinery was operating, Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari said yesterday.
He said: “When I resumed, one of the first priorities I focused on was the refinery. I did a quick review to see if we could quickly fix it. What I found is that we were losing between $300 million to $500 million on a monthly basis in the refinery. We were pumping about 50,000 barrels of crude to go into the refinery. What was coming out was less than 40 per cent equivalent of what was coming in.”
Ojulari said this when he met with the leadership of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in his office at Abuja.
The Port Harcourt Refinery, after years of being in comatose, started working in November, 2024 when former GCEO Mele Kyari announced the reopening to a wide applause by Nigerians, but the operation was halted in May, barely one month after Ojulari’s resumption.
Ojulari, who assumed office on April 2, the same day Kyari was relieved of the job, said he halted the operation of the refinery to prevent further losses and work towards a sustainable arrangement.
Ojulari explained: “The first thing we said was rather than continue to lose, let’s quickly stop and look for a way to put this refinery into a sustainably profitable venture.”
He said the NNPCL was working to revive the moribund refineries to operate at full capacity by adopting the Nigeria Liquefied Natural Gas (NLNG) model (Public, Private, Partnership), which PENGASSAN advocated during the meeting.
The NNPCL chief said talks were on to find a viable solution to the refining crisis, ensuring the refineries become a sustainably profitable venture.
He said the national oil company had concluded a technical review for the three refineries, pointing out that the long term neglect and lack of maintenance were major reasons behind the huge losses recorded monthly, despite the huge investments to make them work
The NNPCL chief explained that a lot of money has been spent on these refineries, but admitted that it’s been challenging to translate those funds into profitability.
He likened the situation of the refineries to parking an old car for some time without any greasing and oiling. He added that the Port Harcourt refinery has been difficult to put back because of years of neglect and it’s been difficult: when you fix one thing, the other thing is still there.
Turning to PENGASSAN, Ojulari said: “The solution you are proposing (the NLNG model) is what we are working on. We’ve completed technical review of the three refineries, but it’s not just about technical. It’s also about commercial viability, it has to make money. Maybe not a lot, but it should not be making a loss.
“We’ve completed the commercial review for the Port Harcourt refinery and from that commercial review, we have come to the conclusion that the best way forward is to get a true professional refinery company to join us and co-operate with us.
“We’ve been having meetings with potential parties, but we need to find the pathway that will work. We’ve also realised that it was not in the best interest of Nigeria, not in the best interest of NNPCL, that we will continue to put money into a place where we do not have the full ability to fully operationalise. So, when we bring in partners, we can work with them.”
Ojulari appealed to Nigerians, contractors, traders and beneficiaries to be patient with the shutdown of the refineries.
In the course of the briefing, the NNPCL chief said his team was facing attacks, but said he will not be deterred. “We are under attack. We will not budge to short-term pressure, as it will not be in the best interest of Nigerians. You cannot drive change without a price, and the transformation is tough,” he said, adding that patience will be required from Nigerians to get to the other side of change, which will benefit the citizens.
He restated his commitment to stay focused in driving the mandate given to the team by President Bola Ahmed Tinubu.
“Tinubu did not put pressure on me to go and do the wrong thing. The baseline was to go and ensure that whatever we’re doing, going forward, sustainably works. There’s no need for us to pretend, there was no negative political pressure for NNPCL to just continue to run at a loss, so we decided to freeze on it, and we’ve been working astutely fine.
“My commitment is that when this refinery is reworking, everybody will be back to work but for now, we all need to co-operate and work together to ensure that whatever we put in place is sustainable.”
Ojulari declared that he is not a politician, saying that he will have to learn a bit more about politics. “I’m not hiding from anybody. I’m not a politician. I will have to learn a bit more about politics, but for me, it is a development plan, and I’m ready to learn.”
The NNPCL chief raised concerns about threats to his life, and some members of the company’s management, saying his major “offence” was the reforms he introduced in the oil and gas sector in line with President Tinubu’s directive to revive the country’s ailing refineries. He said some powerful interests were plotting to unseat him, but insisted that he remained focused on ensuring the success of the refinery rehabilitation plan.
Osifo said the pipelines have been working optimally since Ojulari became the GCEO, leading to an increase in production.
He commended the management of NNPCL for moving beyond addressing the welfare of members.
While seeking answers to the reasons behind the shutdown of the refineries, Osifo noted that PENGASSAN was committed to supporting the NNPCL to stabilise the system, which has been bedevilled with so many challenges, including non-producing fields, to boost production to 2.6 million barrels per day next year.
The PENGASSAN president, who is also president of the Trade Union Congress (TUC), said: “Managing institutions as this and trying to bring about change, we know that there are always ups and downs, which is expected in life. But at PENGASSAN, we assure you that we are solidly behind you, that we will work with you, we will collaborate with you and your team to ensure the stability of the system, because for us, when the system is not stabilised, it has a way of trickling down to our members.
“We will work with you to ensure that the system is stabilised and to ensure that NNPCL continuously remains vibrant, the way it has been, and even to take it a notch higher, because today we are doing approximately 1.8 million barrels of crude.
“We believe that with a lot of capacities and experience that will be brought in, we’ll be able to bring about an improvement in our production”.
The tale surrounding the new development with the nation’s refineries, as painted by Ojulari, runs counter to that of his predecessor, Mele Kyari, who described the reopening of the Port Harcourt Refinery Company in Novembe,r 2024, as a monumental achievement for Nigeria, which signified a new era of energy independence and economic growth for the country.
In a statement, Kyari had said: “The Nigerian National Petroleum Company Limited (NNPCL) has fulfilled its pledge of re-streaming the Port Harcourt Refining Company (PHRC), signalling the commencement of crude oil processing from the plant and delivery of petroleum products into the market.”
Ojulari’s briefing yesterday is coming barely nine months after the Port Harcourt Refinery was adjudged fit for production by Kyari.
International News
Maguire: Tuchel Told Me By Video Call I Was Out And I Said I Was Very Disappointed
On “The Rest is Football” podcast, Manchester United center-back Maguire discussed how Tuchel informed him via video call that he had not been selected for the World Cup squad.
Maguire revealed: “He (Tuchel) video-called everyone. It was quite an awkward call. I first received a message asking if he could talk to me around 4 PM. It was quite a unique approach, and certainly difficult, because he could see everyone’s reactions.
“I said directly that I was really very disappointed. I felt I had done well enough to deserve to be in the squad, and I felt I could have helped the team, playing a role on and off the pitch. He said he couldn’t give me any excuses, but he chose the four players who had helped him through a difficult period last autumn.
“It was hard to accept. After being called up by him for the first time in the March training camp, I did think I would be in the squad. I performed well in both games and then returned to Manchester United, finishing the season with a very strong performance.”
Tuchel ultimately chose to take Stones, Guehi, Konsa, Quansah, and Dan Burn to the World Cup.
No Plans to Retire from England Duty
Furthermore, even with Tuchel’s contract extending to Euro 2028, Maguire is unwilling to close the door on playing for England.
He added: “I don’t think I’ll retire from England duty. I still feel I can shine. Sooner or later there will be a time and a point where I no longer deserve to be selected for England, but even then, I most likely won’t proactively step out and announce my retirement. If I can play for England one more time, it will all be worth it.”
Maguire will use the off-season to fully recover and prepare for Manchester United’s return to the Champions League in the 2026-27 season. While his England teammates face the immense pressure of a major international tournament, the experienced defender will strive to maintain his excellent club form. If he is to earn a recall to the England squad later this year, proving his endurance in the Premier League remains crucial.
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Saka Drags Critics Over Arsenal’s Title Win
Bukayo Saka said that Arsenal’s critics were “not laughing at us anymore” as the club celebrated their first Premier League title in more than two decades.
Gunners players and staff gathered at the club’s London Colney training ground on Tuesday to watch closest challengers Manchester City draw 1-1 away to Bournemouth—a result which gave Arsenal an unassailable four-point lead at the top of the table with just Sunday’s final round of matches remaining.
As the Arsenal squad relished the club’s first Premier League title since 2004, there were also joyous scenes at the north London side’s Emirates Stadium, where thousands of supporters gathered to mark the occasion by lighting fireworks and flares.
Arsenal, runners-up in the league for the previous three seasons, had faced accusations of “bottling” their title bid, with several observers questioning their temperament and ability to handle pressure following a 2-1 defeat at City on April 19.
But while City subsequently drew at Everton and then at Bournemouth, Arsenal won their next four league games without conceding a goal.
Arteta, who rejoined Arsenal as manager in December 2019 with the club in dire straits, installed a blacked-out Premier League trophy at Colney which would light up only when the Gunners won the title
“Light that up,” Saka said in footage posted by defender Jurrien Timber on his Instagram account.
“Let me tell you something. Twenty-two years, 22 years. there was laughing, there was joking, they’re not laughing anymore,” the England international added. “Look, it is going to be shining, it is going to be shining bright.”
In an Instagram post, this time on Saka’s channel, Arsenal’s Myles Lewis-Skelly was seen holding a champagne bottle.
“They called us bottlers,” said Lewis-Skelly who, like Saka, came through the club’s Hale End Academy youth system. “And now we’re holding the bottle.”
Former Arsenal manager Arsene Wenger featured in a celebratory post put out by his old side.
The Frenchman, who won three Premier League titles with the Gunners, including the 2004 ‘Invincibles’, said: “You did it. Champions go on when others stop. This is your time. Now, go on and enjoy every moment.”
City manager Pep Guardiola, who had Arteta as his assistant for two of the Manchester club’s league titles, paid tribute to his fellow Spaniard.
“On behalf of everyone at Manchester City, we congratulate Mikel and all the staff, players and fans on winning the Premier League,” Guardiola told Sky Sports. “They deserve it, for so much hard work and effort.”
Arsenal will be presented with the Premier League trophy after their final match of the domestic season at Crystal Palace on Sunday.
The Gunners could yet end the campaign with an impressive double when they go in search of their first Champions League title against Paris Saint-Germain in a Budapest final on May 30.
AFP
News
Group Petitions Remi Tinubu Over Women Neglect In Oshodi/Isolo, Wants AYA For Reps
A women right group, ‘The Women Advocates’ (TWA) has petitioned the First Lady, Sen. Oluremi Tinubu over male domination of elective and appointive positions in Oshodi/Isolo Federal Constituency II ahead of the forthcoming primaries of the All Progressive Congress (APC) in Lagos State.
In a petition addressed to the wife of the president, the group sought the intervention of the First Lady over what it described as total neglect of the women folks in aspiring for the House of Representatives seat from the constituency.
The group in the petition which was jointly signed by its coordinator, Adejoke Olaogun and Secretary Helen Nwachukwu respectively noted with dismay that since the advent of the second republic in 1999, no female politician has been given the opportunity to represent the constituency at the House of Representatives.
The group listed six male politicians who have represented the constituency to include Gbolahan Okuneye, Jaiyeola Ajatta, Hakeem Muniru, Tony Nwulu, Ganiu Johnson and now currently Okey Joe Onuakalusi.
The Women Advocates said the total domination of elective and appointive positions by male politicians in the constituency negates the gender equality and all-inclusive principle of President Bola Ahmed Tinubu who recently supported constitutional amendment initiated by the National Assembly for increased women’s participation in governance by advocating for at least 35% affirmative action in elective and appointive positions.
The initiative of the National Assembly also gained the affirmation of the ruling party, All Progressive Congress APC (APC) which officially pushed for reduced political hostility, greater inclusion in leadership and also introduced initiatives like ‘774 Explore’ for grassroot mobilization, aiming to boost female representation ahead of the 2027 elections.
“For this obvious gender imbalance, we are constrained to seek your intervention in addressing this anomaly. Being gender-friendly and a strong advocate of women’s inclusion in governance, we are convinced your timely intervention would restore hope of leadership opportunities for the women folks who are expectedly to mobilize extensively for the re-election bid of the president in 2027,” the petition read in part.
It continued: “To this end, we earnestly solicit consideration of female aspirants as APC candidates in a fair and equitable manner ahead of the forthcoming party primaries across the 25 LGAs and 37 LCDAs in Lagos particularly in Oshodi/Isolo Federal Constituency II where we lost the last House of Representatives election to the Labour Party (LP).”
The group specifically appealed for support for Angela Yinka Akintunde as a candidate for the House of Representatives seat in Oshodi-Isolo Federal Constituency II, describing her candidacy as a step toward bridging the gender gap in elective offices.
Women Advocates further urged party leaders and stakeholders to embrace inclusivity and fairness in the forthcoming primaries, emphasizing that equitable representation would enhance political development and social progress in the state
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