Nigeria reportedly lost about ₦366.21 billion ($249.7 million) due to the shutdown of the Port Harcourt Refinery for 156 days, from May 24 to October 31, 2025.
The refinery, located in Eleme, Rivers State, was rehabilitated for $1.5 billion and reopened in November 2024 by the Nigerian National Petroleum Company Limited (NNPCL). However, it was soon closed again for what NNPCL described as “planned maintenance and sustainability assessment.”
Before the closure, the company claimed the refinery produced 1.4 million litres of petrol daily, alongside diesel, kerosene, and LPG. But reports indicate the facility could have earned over ₦366 billion during its downtime.
NNPCL’s Group CEO, Bayo Ojulari, admitted the firm was losing between ₦300 million and ₦500 million monthly across its refineries, with only 40% of crude refined in Port Harcourt converted into usable products.
Some refinery workers, however, alleged the plant never truly resumed operations, claiming imported fuel was being rebranded as locally refined products. They also said management barred staff from speaking to the media after these allegations surfaced.
The National Association of Plant Operators (NAPO) blamed poor performance on monopolies in the oil sector, while IPMAN urged stronger government intervention, warning the shutdown worsened unemployment and hardship in the Niger Delta.
Nigeria’s four state-owned refineries—in Port Harcourt, Warri, and Kaduna—have a combined capacity of 445,000 barrels per day, but none currently operates efficiently.
Meanwhile, the EFCC is probing alleged corruption in the refinery rehabilitation projects, reportedly recovering ₦5 billion and $10 million from inflated contracts. Insiders say corruption, mismanagement, and weak oversight continue to cripple Nigeria’s refining industry.
