Metro
Rehabilitation Challenges: Sale of Refineries Remains a Possibility, Says Ojulari
The Group Chief Executive Officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, has acknowledged growing complexities in the effort to revamp Nigeria’s state-owned refineries.
Although the Port Harcourt refinery began processing crude oil again on November 26, it was later shut down in May for maintenance.
Meanwhile, rehabilitation work is still ongoing at the Warri and Kaduna refineries.
Speaking in an interview with Bloomberg on the sidelines of the 9th OPEC International Seminar in Vienna, Austria, Ojulari said NNPC is in the process of reassessing its refinery strategies, with plans to conclude the review by the end of the year.
“So refineries, we made quite a lot of investment over the last several years and brought in a lot of technologies. We’ve been challenged,” he said.
“Some of those technologies have not worked as we expected so far. But also, as you know, when you’re refining a very old refinery that has been abandoned for some time, what we’re finding is that it’s becoming a little bit more complicated.
“So we’re reviewing all our refinery strategies now. We hope before the end of the year, we’ll be able to conclude that review. That review may lead to us doing things slightly differently.”
When asked whether the review could result in selling the refineries, Ojulari said a sale remains a possibility.
“But what we’re saying is that sale is not out of the question. All the options are on the table, to be frank, but that decision will be based on the outcome of the reviews we’re doing now,” he said.
Ojulari also addressed the cost of oil production in Nigeria, stating that operating expenses range between $20 and $30 per barrel.
“For the cost of crude production, there’s a capital cost and there are the operating costs,” he said.
“The operating cost right now in Nigeria is hovering over $20 per barrel, which is quite high.
“Part of that is because of the investment we’ve had to make in terms of security of our pipelines, which as you know, today we have 100 percent availability of our pipelines. That came out of significant investment.
“So we believe with time, with stability, that cost will start going down, but for now it’s somewhere between $25 and $30 a barrel.”
Looking ahead, Ojulari said NNPC aims to increase Nigeria’s oil output to 1.9 million barrels per day (bpd) by the end of the year.
Globacom has entered into a strategic partnership with the Osun State Government to roll out 20,000 closed user group (CUG) lines for civil servants, teachers, local government staff and political appointees across the state.
The initiative, branded Imole Connect, is designed to foster seamless communication and collaboration among government workers, thereby improving efficiency and productivity.
Speaking at the official launch in Osogbo on Wednesday, Governor Ademola Adeleke commended Globacom for supporting the state’s digital drive. He described the project as a crucial step towards bridging communication gaps in the public sector.
“With the launch of 20,000 Glo Imole Connect lines today, we are taking a bold step towards improving our public servants’ linkage across the State. These lines, operating under a closed user group (CUG) arrangement, come with significantly reduced call and data rates,” Governor Adeleke noted.
He further explained that, “one of the challenges in public governance has always been the difficulty of seamless communication. Information does not always move quickly or efficiently and this has often led to avoidable delays and disconnections between agencies and officers across different levels. With this new arrangement, I am confident that we will begin to close those gaps and work in closer alignment.”
On his part, Globacom’s National Head, Enterprise Business Group, Mr. Adeniyi Odejobi, assured that the company was committed to enhancing service delivery in Osun State through efficient communication.
“Globacom has transformed from being just a telecommunications company to being a digital solutions provider where we offer enterprise solutions to large organisations, government and public sector organisations to enhance digital economy and enhance the operations of smart cities in some sub nationals,” he explained.
Desirous of promoting the love for sciences and pursuit of careers in Science, Technology, Engineering and Mathematics (STEM), the Glo Foundation, Globacom’s corporate social responsibility arm, is staking millions of naira to promote STEM among girls across the country.
This is part of its programme for the celebration of this year’s edition of the International Day of the Girl Child.
The Foundation has put in place the ‘Glo Innov8’ National STEM Competition for girls in Senior Secondary Schools across the country. The competition, a STEM-focused challenge, will see the winning schools carting home N5 million in prizes.
A statement from Glo Foundation explained that the ‘Glo Innov8’ National STEM Competition is aimed at enabling girls in secondary schools to “Compete, Innovate and Win” in the competition and also enhance the confidence and knowledge of the girl child.
It also added that the competition “is our modest way at Glo Foundation of celebrating and encouraging the girl child to focus more on the studies of STEM subjects and pursue careers in these areas in future so as to become problem solvers for the country”.
The overall winning school with the best idea walks away with N2,000,000 prize, while the 2 Students who will represent the school will get a laptop each, and the Teacher/Mentor/STEM Coordinator gets a token of N200,000. The students of the schools that come 2nd and 3rd, as well as the Teachers/Mentors/STEM Coordinators will also get consolation prizes.
The registration for the Glo Foundation National Stem Competition tagged “Glo Innov8”, which kicked off on the Monday September 15th, will end on October 5, 2025.
To register for a chance to win, all that schools across Nigeria have to do is visit https://glo-foundation.com/glo-innov8/ and fill the form, to STEM their way to N5,000,000.
Adron Homes and Properties Limited, one of Nigeria’s leading real estate companies, has reaffirmed its commitment to cultural preservation and community development by officially supporting the 2025 Olojo Festival themed “Tourism for Inclusive Growth with Cultural Rebirth.”
In a press conference held at the Palace of His Imperial Majesty, Oba Eniitan Adeyeye Ogunwusi, CFR, Ojaja II, the Ooni of Ife, the firm highlighted the festival’s enduring significance as a symbol of Yoruba heritage and a catalyst for economic and social development.
Representing the Chairman/CEO, Aare Adetola Emmanuelking, the Managing Director of Adron Group, Mrs. Adenike Ajobo, described the Olojo Festival as “more than a cultural gathering, a living heritage that connects the Yoruba civilization to the global stage, strengthening local economies, uniting people, and inspiring generational pride.”
She noted that Adron Group’s sponsorship aligns with its mission to build communities that honour tradition while creating sustainable opportunities.
“Tourism and housing share a common purpose which connects people, places, and possibilities. At Adron, we believe that true development must respect heritage while driving progress for future generations. Supporting Olojo Festival reflects our commitment to inclusive growth and cultural rebirth,” she stated.
The Olojo Festival, recognised as one of Africa’s foremost cultural events, continues to attract international attention while reinforcing Ile-Ife’s status as the cradle of Yoruba civilization. With the support of organisations like Adron Group, the festival is expected to further project Nigeria’s culture globally, boost tourism, and inspire unity across communities.
Adron Group extended prayers for the continued reign of His Imperial Majesty, Kabiyesi Ojaja II, and expressed optimism that the 2025 Olojo Festival would be peaceful, impactful, and a beacon of pride for Yorubaland, Osun State, and Nigeria at large.
