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.

By Eric Elezuo

A group, Centre for Justice Mercy and Reconciliation (CJMR), has called on the governor of Ekiti State, Abiodun Oyebanji, and other well meaning Nigerians, to come to the aid of a female inmate at the Ibara Custodial Centre, Rashidat Abdul, who is reported to be in critical health condition, and needs urgent medical attention.

The deteriorating health of the said inmate, was reported by officers at the Custodial Centre to the Centre for Justice Mercy and Reconciliation (CJMR), a grassroots organization focusing on human rights and access to justice for those deprived of their rights on death row and in detention.

Speaking with The Boss, the Coordinator of the group, Hezekiah Deboboye Olujobi said, “Upon seeing the woman’s health condition during our visit to Ibara, we pleaded that she be transferred to a hospital where she could receive the necessary medical care. Despite concerns about the financial burden, we took this step of faith to save her life. She is now admitted to Ogun State Hospital, Abeokuta.”

Narrating the genesis of the inmate’s ordeal, Olujobi added that “Rashidat Abdul was sentenced to death by the Ado Ekiti State High Court. She appealed the judgment, but her appeal was unsuccessful. The court convicted the entire family based solely on the testimony of one individual relying on third-party information, without the presence of the alleged witness in court. It is also important to note that her son had just sat for his WAEC examination before their arrest.

“We submitted appeals to the Ekiti State Board of Mercy in September last year and again in March 2025, but these pleas have yet to receive the attention of the Ekiti State Governor. We have conducted a thorough review of the court records, including the brief of argument before the Court of Appeal, and we can see the innocence of this woman and her husband. While the appeal is still pending before the Supreme Court, we are appealing to the human and Christian conscience of the Attorney General of Ekiti State, Hon. Dayo Apata, to look into this case. God delights in true justice and mercy; God hates oppression, so must we.

“The critical state of this woman’s health calls for urgent attention from concerned individuals in Nigeria and abroad. The officer in the prison maintains transparency in this matter, and we are committed to doing the same.

“This morning, 9/7/2025, I received a message from the officer informing us that the funds we deposited have been exhausted. There is an urgent need to purchase injections costing ₦10,000 each daily, conduct X-rays and a series of tests from time to time, engage a caregiver and physiotherapist, provide feeding, and buy supplements to aid her recovery. Additionally, payment for the hospital bed space is required, along with a stipend for transportation for the security personnel on guard and other logistics.”

The group therefore, is appealing to the governor of Ekiti State, Oyebanji and other well meaning Nigerians to come to the woman’s aid so as to preserve her life.

“We kindly ask for your support to respond to this urgent call. Although Rashidat is a Muslim, our service to humanity transcends religion.

“We understand that some who have been deceived in the past may find it difficult to trust those genuinely committed to serving others, and those involved in fraudulent activities may be reluctant to support genuine efforts.

“However, this is the very mission our Lord Jesus Christ has called us to fulfill. We earnestly seek your support.

“Thank you for your kindness and generosity,” Olujobi pleaded on behalf of Rashidat and the group.

For donations and more information, please visit the website: [https://www.cjmr.com.ng](https://www.cjmr.com.ng)

Account Details:
Centre for Justice Mercy and Reconciliation
Zenith Bank
Account Number: 1012189729
Phone: 08030488093

During the price hike, marketers stated that the product was sold at N960 and N980 in the far north because of the distance.

However, as crude prices fell below $70 last week, the pump prices of PMS also declined. Crude prices had crashed because Israel and Iran stopped bombing each other, alleviating fears of a supply disruption in the Middle East.

As of Tuesday, many filling stations sold petrol below N900 per litre in Lagos and Ogun States.

PUNCH Online reports that the filling stations sold petrol at rates ranging from N875 to N890 a litre.

A marginal drop is expected in the price of the product at the pumps.