Business

NNPC Signs MoU with Chinese Firms to Revive Port Harcourt, Warri Refineries

Published

2 weeks ago

May 4, 2026

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BY NKECHI NAECHE-ESEZOBOR—NNPC Ltd has signed a Memorandum of Understanding (MoU) with two Chinese companies—Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd—as part of efforts to complete and fully operationalize the Port Harcourt and Warri refineries.

The agreement, executed in China, was signed by the Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, alongside Chairman of Sanjiang Chemical Company, Guan Jianzhong, and Chairman of Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, Bill Bi.

According to a statement issued by the Chief Corporate Communications Officer of NNPC Ltd, Andy Odeh, the collaboration is structured around a potential Technical Equity Partnership (TEP). The framework is expected to support the completion of outstanding work at both refineries, as well as their operation and maintenance to achieve efficient and sustainable performance.

The partnership also includes plans for expansion and upgrades aimed at improving product quality to meet cleaner and more profitable standards. In addition, the proposed collaboration will explore opportunities to boost petrochemical output and develop gas-based industrial hubs around the refinery locations.

Ojulari described the signing of the MoU as a significant milestone, noting that it followed over six months of engagement between the technical and management teams of NNPC Ltd and its Chinese partners. He added that the agreement marks a critical step toward identifying suitable technical equity partners to restart and expand Nigeria’s refining capacity.

The MoU, he said, also opens the door for further discussions on co-located petrochemical projects and gas-based industries, which are expected to enhance value across the downstream sector.

While the agreement signals strong intent from all parties, NNPC Ltd noted that it represents a preliminary framework, with more detailed and binding arrangements expected to be finalized in due course.

The post NNPC Signs MoU with Chinese Firms to Revive Port Harcourt, Warri Refineries appeared first on Business Today NG.

Related Topics:Chinese Firms Harcourt mou NNPC Port Refineries Revive Signs Warri

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FAAN announces additional health screening measures, enhanced Ebola surveillance at Nigerian airports

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2 hours ago

May 20, 2026

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The Federal Airports Authority of Nigeria (FAAN) has assured travellers and other airport users that enhanced health surveillance measures have been activated across the country’s international airports following renewed Ebola concerns in parts of Central Africa.

In a statement issued on Wednesday, FAAN said the measures were introduced in collaboration with Port Health Services, the Nigeria Centre for Disease Control and Prevention (NCDC) and other relevant agencies to strengthen preparedness and prevent possible health risks.

According to the authority, surveillance and passenger monitoring have been intensified, particularly for travellers arriving from high-risk regions.

“Passengers are being screened for symptoms associated with Ebola, and any suspected case will be promptly isolated and subjected to secondary health checks in line with established national and international health protocols,” the statement said.

FAAN noted that additional emergency response procedures have also been reinforced while airport personnel have undergone increased sensitisation as part of precautionary efforts.

The authority stressed that there is currently no confirmed Ebola case in Nigeria but said it remains vigilant in safeguarding public health and ensuring safe airport operations.

“FAAN remains vigilant and fully committed to safeguarding public health and maintaining safe airport operations,” the agency stated.

READ ALSO: FAAN nabs four unauthorised persons at Akure airport

Passengers were also advised to remain calm, cooperate with health screening procedures and report any symptoms to health officials at the airports.

The development comes as health authorities across parts of Africa continue to monitor Ebola-related concerns and strengthen border surveillance to prevent cross-border transmission.

Nigeria’s aviation and health authorities have previously activated similar emergency screening measures during periods of global and regional disease outbreaks, including the COVID-19 pandemic and earlier Ebola scares.

Business

Inspen Retirement summit for informal sector workers holds Today

Published

8 hours ago

May 20, 2026

Preport

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How to transition informal sector workers from “daily survival” to a life of “structured retirement” through insurance and pension instruments is the question experts will be providing answers to at the 2026 Inspenonline Retirement Summit holding tomorrow.

The summit, which is the third edition in the series, is scheduled to hold on Wednesday, May 20, 2026, at the Nigeria Employers’ Consultative Association (NECA) House, Plot A2, Hakeem Balogun Street, Alausa, Ikeja, Lagos, starting at 9:00am prompt.

According to the Promoter of the summit, who is also the Publisher of Inspenonline, Chuks Udo Okonta, the event addresses a critical gap in Nigeria’s financial ecosystem: the vulnerability of the informal sector.
With over 90 per cent of the workforce operating outside formal structures, Okonta noted that the summit serves as a strategic roadmap to ensure that every Nigerian, regardless of their employment status, can retire with dignity and financial security.

He said the summit aims to bridge the financial inclusion gap by exploring how the Personal Pension Plan (PPP) and various Life Insurance products can be tailored to the irregular income streams of informal workers to ensure they save towards a comfortable life in retirement.

Dignitaries already lined up to brainstorm at the event include the Chairman of STI Leasing Limited, Tom Ogboi, who will preside as the Chairman of the event.

The Commissioner for Insurance, Olusegun Omosehin, and the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, are expected as the Special Guests of Honour.

The Keynote Address will be delivered by the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, who will provide economic perspectives on integrating the informal sector into the national financial safety net.
Other prominent industry captains confirmed for the summit are: the Director-General, Nigerian Insurers Association (NIA), Mrs. Bola Odukale; Chief Executive Officer, Pension Fund Operators Association of Nigeria (PenOp), Anthonia Ifeanyi-Okoro; President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe; and the National President, Association of Registered Insurance Agents (ARIA), Mayowa Olatubosun.
A robust panel session has also been curated to dissect the practicalities of pension and insurance adoption for informal workers.

The paper discussants include: the National President, Association of Small Business Owners of Nigeria (ASBON), Dr. Femi Egbesola; Managing Director, Coronation Life Assurance Limited, Adebowale Adesona; Managing Director, Leadway Pensure Limited, Olusakin Labeodan; and the Chairperson, Nigeria Labour Congress (NLC), Lagos State Chapter, Comrade Funmi Sessi.

The post Inspen Retirement summit for informal sector workers holds Today appeared first on Business Today NG.