STATE HOUSE PRESS STATEMENT

PRESIDENT TINUBU COMMENDS NNPCL OVER THE RE-OPENING OF WARRI REFINERY

President Bola Tinubu has expressed his profound joy at the re-opening of the Warri Refining and Petrochemical Company by the Nigerian National Petroleum Company Limited, describing it as another remarkable achievement in 2024 that has strengthened Nigerians’ hope in his administration.

Today, the Warri Refinery returned to operation weeks after NNPC Limited restarted the 60,000 Barrels per day at the Port Harcourt Refinery in November.

With Warri Refining and Petrochemical Company (WRPC) going into operation after several years of inactivity, President Tinubu has once again expressed his administration’s determination to ramp up local refining capacity and make Nigeria a hub for downstream industrial activities in Africa.

The All Progressives Congress-led administration of President Muhammadu Buhari awarded the contract for the complete rehabilitation and overhaul of the four state-owned refineries.

President Tinubu noted with confidence that with the 125,000 (bpd) Warri Refinery now operating at 60% capacity, his administration’s comprehensive plan to ensure energy efficiency and security is entirely on course. He praised the Mele Kyari-led management of the NNPCL for working hard to restore Nigeria’s glory and pride as a major oil-producing country.

“The restart of Warri Refinery today brings joy and gladness to me and Nigerians. This will further strengthen the hope and confidence of Nigerians for a greater and better future that we promised. This development is a remarkable way to end the year following the feat recorded earlier with the old Port Harcourt Refinery. I am equally happy that NNPC Limited is implementing my directive to restore all four refineries to good working condition.

“I congratulate Mele Kyari and his team at NNPCL for working hard to restore our national pride and make Nigeria a hub for crude oil refining in Africa,” President Tinubu said.

President Tinubu enjoined NNPCL to accelerate repair work on Kaduna Refinery and the 150,000 (bpd) second refinery in Port Harcourt to consolidate Nigeria’s position as a global energy provider.

WRPC will focus on producing and storing critical products, including Straight Run Kerosene (SRK), Automotive Gas Oil (AGO), and heavy and light Naphtha.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

December 30, 2024

The Warri Refining & Petrochemicals Company (WRPC) in Delta State has resumed full operations, producing 125,000 barrels per day.

The announcement was made by Mele Kyari, Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), during a tour of the facility on Monday, December 30.

Despite being in the final stages of its upgrade, the plant is now operational.

Kyari pointed out that many people doubted the project’s feasibility, but the plant’s functionality proves its success.

The tour included Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The facility, located in Ekpan, Uwvie, and Ubeji, Warri, produces 13,000 tons of polypropylene and 18,000 tons of carbon black annually.

WRPC, commissioned in 1978, serves the southern and southwestern regions of Nigeria.

This development follows the recent commencement of operations at the Port Harcourt Refinery and Dangote Refinery.

On Friday, China’s central bank announced that it has extended its bilateral currency swap agreement with the Central Bank of Nigeria.

The People’s Bank of China announced on its website that the overall value of the agreement amounts to 15 billion yuan, which is approximately 2.09 billion U.S. dollars, or 3.28 trillion Nigerian naira.

The agreement remains in effect for a period of three years and may be extended through mutual agreement, as stated in the statement.

The statement indicated that renewing the currency swap agreement will enhance financial collaboration between China and Nigeria, increase the use of both currencies, and support the growth of bilateral trade and investment.