Olaniwun Ajayi LP advised African Refinery Port Harcourt Limited (the Company) on the equity investment by the Nigerian National Petroleum Company Limited (NNPC Limited). The investment will develop, build and operate a greenfield deep conversion refinery with a 100,000 bpd capacity (the Project).
What the investment does for African Refinery Port Harcourt
This collaborative investment aims to strengthen the Company’s financial position, so that it can carry out the Project.
The Project at the Port Harcourt Refining Complex
The Project will sit within the Port Harcourt Refining Complex. Its overall objective is to raise Nigeria’s in-country capacity to supply PMS and other key petroleum products to local and international markets. It will also create jobs in the country.
Our role
Our role advising the Company shows the Firm’s commitment to pivotal projects that continue to drive and shape the African energy sector and economy.
For related reading, see our note on the Blackrose methanol project financing and our Oil & Gas 2025 wrap-up and 2026 outlook.