The Federal Government has indicated that it may sell off its publicly-owned refineries in a move aimed at attracting investors, boosting competition, and improving efficiency in the downstream oil sector, currently dominated by the Dangote Refinery.
The disclosure was made by the Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, during an interview with Bloomberg TV anchor, Joumanna Bercetche, on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on Tuesday.
Verheijen said that letting go of the refineries owned by the Nigerian National Petroleum Company Limited (NNPCL) is one of several reform options the government is exploring to reposition the energy sector for sustainable growth.