The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refining Company (PHRC) is not up for sale. At a town‑hall meeting in Abuja, Group Chief Executive Officer Bashir Bayo Ojulari made it clear that NNPCL plans to finish the plant’s high‑grade rehabilitation and keep it within its portfolio.

Ojulari explained that this decision follows detailed technical and financial reviews of Nigeria’s three refineries, Port Harcourt, Kaduna and Warri. Those reviews showed that trying to run Port Harcourt before completing its overhaul was neither commercially sound nor in the nation’s best interests.

While all three refineries are making progress, the outlook for Port Harcourt calls for stronger technical partnerships to see its upgrade through to completion. Selling the plant now, Ojulari argued, would only erode the value already invested in its rehabilitation.

Speculation about a possible sale had grown after Ojulari told Bloomberg during the 2025 OPEC Seminar in Vienna that “all options are on the table.” His latest remarks have put those rumours to rest and were met with applause from staff, who welcomed the clear, business‑focused direction.

Beyond this headline announcement, the town hall featured candid progress reports from NNPCL’s executive vice presidents across Upstream, Downstream, Finance, Business Services, Gas, Power and New Energy. They reviewed recent achievements, ongoing reforms and the challenges that lie ahead, acknowledging past missteps and laying out a roadmap for the future.

By reaffirming its commitment to complete the Port Harcourt refinery upgrade and retain the asset, NNPCL underscores its role as custodian of Nigeria’s strategic energy infrastructure. The move also supports the Federal Government’s broader energy‑security goals by keeping critical refining capacity under national control.