Nigeria's oil sector faces scrutiny as NNPC signs refinery deal with Chinese partners

A coalition of oil‑sector reform advocates, the Centre for Energy Sector Transparency, condemned a new memorandum of understanding between the Nigerian National Petroleum Company Limited (NNPCL) and two Chinese firms. The agreement proposes a technical‑equity partnership aimed at completing rehabilitation and restarting the Port Harcourt and Warri refineries, which have remained largely idle despite earlier government‑funded turnaround attempts.

The group warned that the deal repeats past policy failures, noting that over $1 billion has already been spent on previous refinery rehabilitation projects without transparent accounting or results. It called for a forensic audit of past expenditures and urged the National Assembly and anti‑corruption agencies to investigate the use of public funds. The coalition stressed that new technical partners cannot replace the need for accountability, oversight, and institutional reforms.

Separately, the chief executive of a Nigerian firm urged local companies to rethink their approach to energy‑sector development to achieve sustainable growth and long‑term value, echoing calls for broader strategic changes in the industry.